Examlex
Instructions: Please define the following key terms.Show Who? What? Where? When? Why Important?
-principate
Compounded Monthly
Describes the process where interest is calculated and added to the principal amount of an investment or loan on a monthly basis.
Compounded Semi-annually
Refers to the process where interest is calculated and added to the principal sum of a deposit or loan twice a year.
Compounded Monthly
A method of calculating interest where the accrued interest is added to the principal sum each month, so that each successive calculation includes interest on the interest.
RRSP
A Registered Retirement Savings Plan, which is a retirement savings and investing tool for employees and the self-employed in Canada.
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