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Describes what has happened to Gurdeep benefit

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Question - Gurdeep Alliwalia purchased $10,000 worth of segregated fund units on January 1, 2014 with a 75% maturity guarantee. On January 1, 2016, his units had increased in value to $12,000 and he decided to "re-set" the maturity guarantee. Which of the following statements best describes what has happened to Gurdeep's benefit?

He is guaranteed to receive at least $9,000 if he holds the units until 2026

He is guaranteed to receive at least $9,000 if he holds the units until 2024

He is guaranteed to receive at least $7,500 if he holds the units until 2026

He is guaranteed to receive at least $7,500 if he holds the units until 2024

Reference no: EM133146785

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