Examlex
During which event does the Sun reach its most southern point in the celestial sphere within the Northern hemisphere?
Guaranteed Investment Certificate
A secure investment that guarantees to return the principal amount along with a fixed rate of interest at the end of the investment term.
Interest
The cost of borrowing money, calculated as a percentage of the total amount borrowed.
Compounded Annually
Refers to the process of earning interest on both the initial principal and the accumulated interest from previous periods on a deposit or loan.
Maturity Value
The amount of money that an investment will grow to at the end of its investment period.
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