Since 1 Sept 2010, Cathy's investment policy has been to lodge fixed (term) deposits at her local bank.

1. Since 1 Sept 2010, Cathy's investment policy has been to lodge fixed (term) deposits at her local bank. The bank pays interest on the maturity date of a deposit and the interest rate is expressed as an annual simple interest rate. When a deposit matures, Cathy's policy is to re-lodge the whole sum (principal and interest) immediately for a further period. She chooses the term of each deposit according to her assessment of the interest rates available at that time. Cathy's decisions to date are as follows:

Date