"Term bond" are bonds whose principle is payable at maturity. What does mean by Term certificate?
Correct answer: B. A certificate of deposit whose principal is payable at maturity
- A. A bond with a longer time to maturity
- B. A certificate of deposit whose principal is payable at maturity
- C. A certificate of deposit with a shorter time to maturity
- D. certificate of deposit with a longer time to maturity
Explanation
A term certificate is a certificate of deposit held for a fixed period, with its principal repaid when it matures. It is not defined simply by having a longer or shorter maturity.
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