Mariah maintains several accounts with the Metropolitan Credit Union, a member of the Canada Deposit Insurance Corporation (CDIC). In her personal chequing account, she has a balance of $15,500. She also has a joint US$ chequing account with her husband that has a balance of $11,800. Exactly five years ago, Mariah deposited $75,000 into a five-year compound GIC with an interest rate of 5.25% per annum. In addition, Mariah has $130,000 in her RRSP, of which $100,000 is invested in mutual funds and $30,000 is invested in treasury bills. If Metropolitan Credit Union became insolvent today, what statement about Mariah's CDIC coverage is true?

Answer rating: 100% (QA)

The true statement about Mariahs CDIC coverage is Mariahs fiveyear compound GIC with a balance of 75... View the full answer