If a CD allows for unlimited deposits and withdrawals, would a penalty apply in this scenario?
Balance of the CD on 11.18.13 is $1000 (funds deposited 9.1.13). Deposit made on 11.19.13 for $300. Withdrawal made on 11.22.13 for $600.
Does the penalty apply because there is a withdrawal within six days of a deposit? or the fact that there were funds of $600 that have been on deposit since 9.1.13 mean that no penalty on the withdrawal is required?
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