Why do certificates of deposit (CDs) tend to pay higher interest rates compared to money market accounts?

Because the required minimum investment for CDs is higher than for money market accounts.

Because CDs are not government insured and therefore are riskier investments compared to money market accounts.

Because there are higher annual fees charged for CDs compared to money market accounts.

Because the investor agrees to leave his or her money in the CD for a specified period of time while he or she has free access to funds in a money market account.