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MyPyramid was developed by
Effective Annual Rate
The interest rate on an investment or loan, calculated annually, that takes into account the effects of compounding.
Simple Interest
Interest calculated only on the original principal and paid only at the maturity date.
GICs
Guaranteed Investment Certificates, a type of Canadian investment that offers a guaranteed rate of return over a fixed period.
Purchasing Power
The value of currency expressed by the amount of goods or services that one unit of money can buy.
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