Donald Rump has calculated that he needs a $24,000 emergency fund available to him for the next 20 years. He has decided to invest his emergency fund in T-bills, because of the guarantees and easy accessibility of funds. T-bills are currently offering a .8% yield for one year. GICs are paying 1.4% and the rate of inflation is 1.2%.

To what form of risk is Donald's emergency fund most exposed?

options:

	Inflation risk.
	Market risk
	Interest rate risk
	Liquidity risk