What type of savings account is a very safe time deposit for…

What type of savings account is a very safe time deposit for a specified period of time (generally 3 months to 5 years), has a guaranteed rate of return, generally has a higher interest rate the longer the time period, and has an interest penalty if you withdraw early?

You have a choice between investing $1,000 at Cougar Credit…

You have a choice between investing $1,000 at Cougar Credit Union or Tiger Bank. Cougar Credit Union offers a money market account which pays 8% annual interest which is compounded quarterly.  Tiger Bank offers a money market account which pays 8.2% annual interest and compounds annually.  Which account will pay the most interest over a one-year period? How much extra interest would you earn?