certificate of deposit

Definition of "certificate of deposit"
  1. A financial document provided by a bank or other institution that acknowledges a certain amount of money has been deposited and will be returned upon maturation, such as in two years, along with a preset interest
How to use "certificate of deposit" in a sentence
  1. The investor decided to put their savings into a certificate of deposit to earn interest over time.
  2. The financial advisor recommended a certificate of deposit as a way to safely store funds and receive predetermined interest.
  3. While reviewing his finance options, he decided that a certificate of deposit would provide a reliable return on his investment.

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