If you have $3000 to invest, but could need the money at any time in the next year, you should

Question

Quizplus · Accepted Answer

Given the possibility of needing the money at any time in the next year, it is best to choose a low-risk option. Investing in a money market savings account will provide a higher interest rate than a traditional savings account while still allowing for easy access to the funds if needed. The other options, such as buying a one-year closed GIC, common stocks, or a diversified stock mutual fund, carry more risk and uncertainty in the short term, making them less suitable for this scenario.

If You Have $3000 to Invest, but Could Need the Money