You Have $3000 Saved in Case You May Need to Replace

question 7

Multiple Choice

You have $3000 saved in case you may need to replace the furnace in your house which has been acting up.Which of the following would be the best place to put the $3000?

• A)A one-year fixed-rate GIC earning four percent
• B)A stock mutual fund which earned nine percent in the past year
• C)A TFSA cashable term deposit earning three percent
• D)A high interest savings account earning three percent

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Definitions:

Independent

Free from outside control; not depending on another's authority.

Emotional Distress

A negative psychological response, including feelings of pain, suffering, or emotional turmoil, which may result from stressful events or situations.

Divorced Parents

Individuals who are legally separated from their spouse, resulting in the termination of their marriage, and who may co-parent their children following the divorce.

Day-Care Center

A facility that provides care and educational activities for children when their parents or guardians are unavailable during the day.