Rates Current as of Thursday February 09, 2012

A certificate of deposit is an IOU in that there is a promise to pay back the interest and principal at maturity to the holder of the certificate of deposit. But, a certificate of deposit is not a marketable instrument. In another word, if the holder of the certificate of deposit needs the funds or money tied up in the certificate of deposit before the maturity of the certificate of deposit, then there is no market of buyers of certificates of deposit.

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What is a certificate of deposit?

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