Write the Correct Meaning for LOM

question 56

Short Answer

Write the correct meaning for LOM:

---

Definitions:

GICs

A financial vehicle in Canada, Guaranteed Investment Certificates offer investors a set return rate over a defined period.

Simple Interest

Interest calculated on the principal or original amount of a loan or investment, without compounding.

GICs

Guaranteed Investment Certificates (GICs) are Canadian investment vehicles offering a guaranteed rate of return over a fixed period of time.

Investor

An individual or organization that allocates capital with the expectation of achieving a financial return.