Name: ________________________ Date: _____________________________

MCR3U
Choice Assignment 3

This assignment is intended to help the students see some of the realities of the banking world.

Students are to find information from three financial institutions and will do a direct comparison of the investment and account options of the three companies.  The conditions of the institutions are:
1)	a traditional Canadian bank
2)	a bank that only exists online 
3)	a bank from outside of Canada

Please compare the rates and options for the following:
a)	a mortgage
b)	opening a bank account
c)	purchasing a GIC or mutual fund (this may be called a certificate of deposit in the U.S.)

Students should compare
a)	the interest rates
b)	monthly/annual user fees
c)	limitations
d)	bonuses/incentives that the banks give to gain customers

Please either go directly to an institution to obtain this information, or (more preferably) go to the internet to get a comparison of this information.

This assignment is due on Monday, March 19th, 2007, and should be submitted by electronic means.