Examlex
With the growing population and consumption have come
Compound-interest
Interest calculated on the initial principal and also on the accumulated interest of previous periods.
GIC
A Guaranteed Investment Certificate (GIC) is a Canadian investment that offers a guaranteed rate of return over a fixed period, often issued by banks or trust companies.
Maturity Value
The sum of money an investor receives at the conclusion of a fixed-term investment, which encompasses both the original investment and the earned interest.
Inflation Rate
The speed at which the overall price level for products and services increases, diminishing the buying power.
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