Madison has her funds placed in a CDIC-member bank. She holds $45,000 in a chequing/savings account, $85,000 in a non-registered investment account ($50,000 in a money market fund and $35,000 in a 4-year, compound GIC), $420,000 in an RRSP ($190,000 in GICs and $230,000 in various mutual funds), and $91,000 in a TFSA ($70,000 in cash and $21,000 in shares of XYZ Corporation). How much of Madison's total investments are protected by the Canada Deposit Insurance Corporation? Explain.

Answer rating: 100% (QA)

In Canada the Canada Deposit Insurance Corporation CDIC is a federal Crown corporation that aims to ... View the full answer