Your Chartered Bank Is Offering a One-Year GIC with an Interest

question 53

Multiple Choice

Your chartered bank is offering a one-year GIC with an interest rate of two percent, and a one-year cashable GIC for one and a half percent. Canada Savings Bonds (CSB) are paying one percent. You have $10 000 to invest of which you feel $5 000 is ample for emergency fund purposes. How should you invest your funds given the options above?

• A)$5 000 in the one-year GIC and $5 000 in CSBs
• B)$5 000 in the one-year GIC and $5 000 in the one-year cashable GIC
• C)$10,000 in the one-year GIC
• D)$10,000 in the one-year cashable GIC

---

Definitions:

Vertebral Column

The spinal column is a series of vertebrae that extend from the skull to the lower back, serving as the main structural support for the body and protecting the spinal cord.

Interspinales

Muscles located between the spinous processes of the vertebrae, which assist in stabilizing the spine and facilitating movement.

Multifidus

A deep spine muscle important for stabilizing the joints within the spine during movement.

Psoas Minor

A small muscle located in the lower back that helps with flexion of the lumbar spine, though it is absent in a significant portion of the population.