Examlex
On which of the following are Social Security taxes levied?
Nominal Rate
The advertised or stated rate of interest, not including the effects of inflation or compounding.
RRSP
Registered Retirement Savings Plan, a savings and investment vehicle for Canadians to save for retirement in a tax-efficient way.
Compounded Rate
The rate at which interest is calculated on the initial principal and the accumulated interest of previous periods.
Compounded Monthly
The calculation of interest on both the initial principal and the accumulated interest from previous months.
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