Mutual funds
Mutual fund is a good way to invest money since the fund manager is very professional with …show more content…
The client is recommended to buy Non-Redeemable GICs from Royal Bank, which will provide a %1.050 interest rate annually. According to her profile, having investments stay in the bank for a fixed period without access to them will not be a problem for her as she does not have family members to take care. Non-Redeemable GICs will provide the client with a higher interest rate, and choose to get all the interest at maturity will make that interest rate even higher. Also, investing in Non-Redeemable GICs gives the client a variety choices of terms. By comparing all of the interest rates for each term, the client is recommended to choose a 1.5-2 years maturity term since her wedding will be hold two years, and she hopes to save enough money for it. In contrast, Royal Bank provides investors a higher interest rate, %1.050, than TD Trust, %0.90, and Bank of Montreal, which provides an interest rate of %0.825 for the same maturity term. Therefore, it will be a wise decision for the client to buy Non-Redeemable GICs from Royal Bank with a 1.5-2 years maturity term, which will provide her an interest rate of