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How is a savings account different from a certificate of deposit account?

A. The owner of a savings account cannot write checks on that account, while one can write checks to access the money in a certificate of deposit account.

B. A savings account will not accrue interest, while a certificate of deposit account will.

C. A savings account can only be opened at a commercial bank, while a certificate of deposit account can only be opened at a savings and loan.

D. One can withdraw money from a savings account at any time, while early withdrawals from a certificate of deposit are limited.

Answer :

Answer:

The answer is D

Explanation:

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A savings account is a deposit account with a bank or other economic institution that pays interest.

How does a certificate of deposit work?

When a depositor purchases a certificate of deposit, they agree to leave a certain amount of money at the bank for a specified period of time, such as a year. In exchange, the bank promises to pay them a fixed interest rate and to repay their principal at the end of the term.

Thus, Option D is correct.

For more information about the certificate of deposit refer to the link:

https://brainly.com/question/22917325

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