Lesson 1
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✓ Answer Key
1.
A sinking fund is
B) Money saved monthly for a specific planned future expense
2.
A 6-month emergency fund is recommended over 3 months because
B) EI has a waiting period and only replaces ~55% of earnings
3.
The best account to hold an emergency fund in Canada is
C) High Interest Savings Account (HISA) at EQ Bank, Simplii, or Tangerine
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