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Simple English definitions for legal terms

certificate of deposit (CD)

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A quick definition of certificate of deposit (CD):

Certificate of Deposit (CD) is a type of savings account where you put a certain amount of money for a specific period of time. The bank pays you interest on the money you deposit, but you cannot take out the money until the time period is over. The interest rate depends on the bank's savings and money market product, and there may be penalties if you take out the money before the end of the time period.

A more thorough explanation:

A Certificate of Deposit (CD) is a type of savings account that requires a fixed amount of money to be deposited for a fixed period of time. During this time, the account earns interest, which is paid out by the bank. The money must stay in the account for the entire predetermined time, and there may be penalties for withdrawing it early. The interest rate depends on the bank's savings and money market products.

Let's say you have $5,000 that you don't need to use for a year. You could deposit it into a CD with a bank that offers a 2% interest rate. This means that after a year, you would earn $100 in interest. However, if you need to withdraw the money before the year is up, you may have to pay a penalty.

Another example could be if you have a long-term savings goal, such as saving for a down payment on a house. You could deposit a portion of your savings into a CD with a longer term, such as five years, to earn a higher interest rate than a traditional savings account.

These examples illustrate how a CD works by showing how it can be used to earn interest on a fixed amount of money for a fixed period of time. It's important to remember that CDs may not be the best option for everyone, as there are penalties for early withdrawal and the interest rates may not be as high as other investment options.

Certificate of Citizenship | certificate of formation

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General

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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