Banking
Cd's and Interest Rates
What are Cds
Cds are one of the most effective,low-risk forms of investment.They can also be easiy turned into cash.A cd from East West bank is a special type of deposit account that offers a higher rate of interest than a regular savings account.The interest rate in the Citizen's National bank's account is 0.500% with an annual percentage yield of 0.50%.
What Are Interest Rates
An interest rate is often expressed as an annual percentage of the principal.It is calculated by dividing the amount of interest to the amount of principle.