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 What is the purpose of a 30-day certificate of deposit?

Answer Cash management is essential to financial planning. Cash reserves pay for everyday items, finance large purchases and provide financial relief in emergencies. Learn how to meet your cash management... Read More »
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How do I calculate yearly deposit amounts based on total certificate of deposit amount?

Figuring the DepositAdd 1 to the interest rate per month, then raise the number to the power of the number of times the CD compounds. This is the interest factor. Divide the total amount of the CD ... Read More »
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What does certificate of deposit mean?

A certificate of deposit is a bank account that returns a fixed rate of interest for a fixed period of time. These accounts are covered by FDIC insurance, but impose a high early withdrawal penalty... Read More »
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Can a 401(k) be a certificate of deposit?

A 401k can be a certificate of deposit. A certificate of deposit is an appropriate savings method for any 401K plan. It is a safest choice to protect the principal. Unlike stocks and mutual funds, ... Read More »
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Is a Certificate of Deposit an IRA?

An IRA is a retirement vehicle that allows your money to grow tax-free. Traditional IRAs allow you to tax-deduct the money you put into the investment vehicle but you pay tax when you remove the mo... Read More »
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