Alia Keeps His Savings of $5000 in a Current Account

question 109

Essay

Alia keeps his savings of $5000 in a current account at TD Bank for 3 years in order to avoid paying any banking fee. The rate of return for the current account is 0%. Mandated discount rate in Ontario is 2.5%. What is the worth of Alia's money in 3 years?

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Definitions:

Blast

A powerful explosion or a strong gust of wind or air.

Cidal

Used as a suffix in pharmacology and microbiology to indicate substances or actions that kill (e.g., bactericidal, which means capable of killing bacteria).

-ase

A suffix used in biochemistry to denote enzymes, which are proteins that catalyze biochemical reactions.

Crine

Pertaining to secretion, used in terms to describe glands or substances involved in the release of chemical substances in the body.