A saver will usually earn the highest rate with which of the following types of savings plans?

Question

Quizplus · Accepted Answer

Guaranteed Investment Certificates (GICs) offer a fixed rate of interest for a set period of time and are generally considered to be one of the safest savings options. Since the interest rate is fixed, savers can be assured of the rate of return they will receive, even if market conditions change. GICs usually offer higher interest rates compared to other types of savings plans, such as passbook or club accounts.

A Saver Will Usually Earn the Highest Rate with Which