Examlex
Which product is covered under the Canadian Consumer Protection Safety Act?
Compounded Daily
The process of calculating interest where the accrued interest is added to the principal sum each day, resulting in interest earnings on interest.
Investment Account
An account held at a financial institution that is used by investors to hold and manage securities, such as stocks, bonds, and mutual funds, and other investments.
Rate Of Return
The gain or loss on an investment over a specified time period, expressed as a percentage of the investment’s initial cost.
Effective Annual Rate
The annual interest rate that takes into account the effects of compounding over multiple periods.
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