Which of the following is true of a traditional certificate of deposit (CD)??
A. ?Money in traditional CDs must be kept at the issuing institution for a specified time period.
B. ?Traditional CDs pay no periodic interest.
C. ?Traditional CDs are repaid in installments by the issuing bank.
D. ?Traditional CDs have a floating rate of interest.
E. ?Traditional CDs are discounted when their market price is more than issue price.
Answer: A
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