?A certificate of deposit represents:
A. ?a promissory note of payment by a bank borrowing reserves from another bank.
B. ?a deposit in a savings account in a bank.
C. ?a promissory note of payment by the issuing institution to the investor.
D. ?a time deposit of a state government with the federal government.
E. ?a time deposit at a bank or other financial intermediary.
Answer: E
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