What Is Meant by "Standing For" Representation

question 20

Short Answer

What is meant by "standing for" representation?

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Definitions:

Compounded Monthly

A compound interest calculation method where interest is added to the principal balance each month.

RRSP

Registered Retirement Savings Plan, a Canadian financial vehicle for individuals to save for retirement on a tax-sheltered basis.

Nominal Rate

The advertised or stated interest rate on a loan or investment, not accounting for any fees or compounding of interest.

Effective Rate

The real interest rate on an investment or loan, taking into account the effect of compounding over a given period.