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What is the metric unit used for measuring temperature?
Nominal Rate
The stated or advertised interest rate on a loan or investment, not accounting for any compounding of interest within that period.
Quarterly Compounded
Quarterly compounded means that interest is calculated and added to the principal sum every quarter (three months), leading to growth in the investment or loan amount.
GIC
A financial product in Canada known as a Guaranteed Investment Certificate that promises a specific return rate for a predetermined time frame.
Compounded Semiannually
Compounded semiannually refers to the process of calculating interest on a principal sum where the interest is added to the principal twice a year, causing it to grow at an accelerated rate.
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