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Author: FIgirl Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76913  
Subject: Re: Advice needed Date: 9/6/2006 6:51 PM
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JAFO wrote:
I do not understand.

A CD is a Certificate of Deposit. IOW, it is a deposit account, and one typically redeems the CD, and if one redeems early, one pays an early redemptino penalty, usually x-months of interest.

Why would you need to sell the CD instead of redeeming it.

Truthfully, I don't know. I called Fidelity and that's what they told me - that in order to unload the CD early I have to sell it on the secondary market, and that the best price they could find for it on the 2ry market was $880.

I haven't looked at the original paperwork from when I bought the CD - maybe the bank I bought it from has some other early redemption rules that would allow me to at least preserve the principal? I'll check the paperwork tonight.

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