a certificate of deposit pays a higher interest rate than a savings account because the money is\no…

a certificate of deposit pays a higher interest rate than a savings account because the money is\no guaranteed by the government.\no kept by banks for a longer time period.\no loaned to banks by consumers.\no immediately available to consumers.

a certificate of deposit pays a higher interest rate than a savings account because the money is\no guaranteed by the government.\no kept by banks for a longer time period.\no loaned to banks by consumers.\no immediately available to consumers.

Answer

Brief Explanations:

A certificate of deposit (CD) has a fixed - term. Since the bank can use the deposited money for a longer, more predictable time period compared to a savings account where withdrawals can be more frequent, it offers a higher interest rate.

Answer:

kept by banks for a longer time period.