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CDs can be an excellent investment. They offer a specific rate of return in exchange for tying up your money for a particular period of time. Unlike the Stock Market, there is a guaranteed return, and unlike bonds, you are able to "cash out" and reinvest your money, penalty free, much quicker. Using a CD investment calculator, you can determine whether the rate of investment for your CD will be acceptable for the length of time you're unable to access the money.

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