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Ren inherits $5,000. Since he doesn't plan to spend the money right away, he decides to open an account that will guarantee him a fixed
Ren inherits $5,000. Since he doesn't plan to spend the money right away, he decides to open an account that will guarantee him a fixed interest rate of 5% over five years. With this type of account, if Ren withdraws funds before the five years pass, he will have to pay a substantial penalty. What type of account did Ren open? a Negotiable Order of Withdrawal account a checking account a money market account a demand deposit account a certificate of deposit
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