Your chartered bank is offering a one-year GIC with an interest rate of 2%, and a one-year cashable GIC at 1.5%. Term deposits are paying 1%. You have $10 000 to invest of which you feel $5000 is ample for emergency fund purposes. How should you invest your funds given the scenario above?

Select one:

A.

$5000 in the one-year GIC and $5000 in the one-year cashable GIC

B.

$10 000 in the one-year cashable GIC

C.

$10 000 in the one-year GIC

D.

$5000 in the one-year GIC and $5000 in a term deposit