Examlex
Canada is insulated from economic problems in other parts of the world.
Compounded Monthly
The process of calculating interest on the initial principal and the accumulated interest from previous periods monthly.
Amortized
The steady decrease of an owed sum through consistent payments towards both the interest and the principal over a set duration.
Total Debt Service Ratio
A debt measurement ratio that calculates an individual's total debt payments relative to their gross income.
Gross Monthly Income
The total amount of income earned in a month before any deductions or taxes are applied.
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