The correct answer to the question is:
D) Three years
Explanation:
1. Certificates of Deposit (CDs) are time-based deposits offered by banks and credit unions where you agree to leave your money in the account for a specified period in exchange for a higher interest rate compared to regular savings accounts.
2. The maturity of a CD refers to the length of time your money is locked into the account before you can withdraw it penalty-free.
3. The options given are:
A) Two weeks
B) One month
C) Six months
D) Three years
4. Options A, B, and C (Two weeks, One month, Six months) are common CD maturities that are shorter durations, typically available for CDs.
5. Option D (Three years) is NOT a common CD maturity. Three years is a longer duration, which may be less common for CDs compared to shorter terms like one month or six months. It's important to note that CDs can have various maturity lengths depending on the financial institution and the terms they offer.
