Funds in a must remain on deposit for a stated time period in order to avoid an interest penalty. certificate of deposit u. s. treasury bill checking account mutual fund

The correct answer is: "Funds in a certificate of deposit must remain on deposit for a stated time period in order to avoid an interest penalty.

Explanation:

When acquiring a certificate of deposit (CD) the customer agrees to made a single payment and leave it untouched for a predetermined period of time, in order to obtain an interest rate premium. To avoid an interest penalty, the customer cannot withdraw the money before the term (6-month CD, 1-year CD, 18-month CD, etc.) is finished.

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