10. Match the descriptions with the types of
time deposit (CD)
This account provides higher interest but may bequire a higher minimum balance.
This bank account pays a higher interest rate but imposes a penalty if the money is withdrawn before a certain time.
This savings account allows earnings to be used without taxation when used for college expenses.
This bank account pays interest and allows limited withdrawals.
This retirement account allowing tax deferral for income is offered by an employer.
This account is open to not just employees, but all individuals who wish to make tax-deferred contributions to save for retirement.



Answer :

Final answer:

Different types of CD accounts include Jumbo CD, Penalty CD, and the tax-advantaged 529 Savings Plan for college expenses.


Explanation:

CD Types:

  1. This account provides higher interest but may require a higher minimum balance: Jumbo CD
  2. This bank account pays a higher interest rate but imposes a penalty if the money is withdrawn early: Penalty CD
  3. This savings account allows tax-free earnings for college expenses: 529 Savings Plan

Learn more about Certificate of Deposit (CD) accounts here:

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