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Figure 10-7
-Refer to Figure 10-7. Following the increase in money supply, at the original interest rate of 6%, there is
Effective Annualized Rate
The interest rate on an investment or loan on an annual basis, taking compounding into account.
Inflation
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
Effective Interest Rate
The actual annual interest rate that an investor earns or pays, taking into account the effect of compounding over the period.
GICs
Guaranteed Investment Certificates, a secure investment that guarantees to preserve the principal amount while offering a fixed interest rate over a specified period.
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