Certificate of deposit?
How do CODs work? How could I make money by putting $100,000 in one? How much money could I make?
Answers:
I feel a ripping sensation in my arms when using the rowing machine. Is this normal?
CD's are normally locked at a particular rate for a set amount of time. Anywhere for 1 month to several years. The longer you 'lock; your funds, the higher the return. CD's are considered safe and FDIC insured usually up to 100,000 per depositor. So, if you had an account setup at 100,000 and 4%, you'd return 4,000 minus taxes.With todays rates, you will probably get better rates and have more liquidity with using an online bank such as ING Direct and EmigrantDirect.
Shop around but for the time being, online savings is the safest bet with solid returns imo.
What is the name of the surf shop that has a shark as it's logo?
DEPENDS ON THE RATE AND THE TIMEI disagree with Rez about the higher your interest rate will be if you leave it in longer. Banks run "specials" where they advertise a special rate for one of their CDs--sometimes it is the 3-month, sometimes it is the 6-month, sometimes it is the 9mo, etc. I went to countrywide bank to get my CD- as far as I have seen, they have the highest rate.and tend to always have a high rate. However, my mother got 6% on a 6 month at Citibank not too long ago. Go to www.bankrate.com and go through the prompts until you reach select my area (it is under the top 100 rates).. it helped me..
oh also, when u go to bankrate-make sure to check ALL the CD prices for the bank-it will ask which you prefer- and if you look @ one yr, it might be low --but a 6 month is high..so you have to check ALL their time lengths.
Watch out for when it needs to get renewed though- they sent me something in the mail to renew my CD and it was .40% less than what they have online- so I guess I have to call them and see if I can work it out... or perhaps take it out of the CD-and then deposit it back in @ the higher rate...
GOOD LUCK! it is all so confusing to me, too..
countrywide has a good rate for the 3-month and 6-month... and it is FDIC (insured by the gov't)!! Good luck!
More Questions & Answers...