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Unformatted text preview: -Minimum balance requirements-May limit o # of transactions o Minimum withdraws-Offers check writing Certificate of Deposit $ for a fixed item 6 mos – or 4 to 5 years-Principal does not fluctuate-APY-Good balance of risk and reward-Caution: Watch for FDIC insurance-Caution: Penalty for early withdrawal-Laddering of CD’s (or Bonds) o Liquidity (access to your money without penalty) o Earn the highest amount of interest Savings accounts: Checking, Savings, MM, CD’s...
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This note was uploaded on 12/01/2011 for the course HDFS 238 taught by Professor Boyce during the Fall '10 term at Michigan State University.
- Fall '10