Question

which of these is a characteristic of certificates of deposit (cds)?
they are always offered at variable rates.
they last for a set period of time.
they can be opened with any amount of money.
they allow access to the money at any time without penalty.

Explanation:

Certificates of Deposit (CDs) are time deposits with fixed terms. They often have fixed interest rates, require a minimum opening deposit, and charge penalties for early withdrawal. The key defining feature is their fixed term length.

Answer:

They last for a set period of time.