Examlex
Which one of the following is most apt to qualify as an itemized deduction?
Compounded Annually
This refers to the method of calculating interest where the interest earns on both the initial principal and the interest that has been accrued from previous periods, applied once a year.
Compounded Quarterly
Interest calculation method where interest is added to the principal balance of an investment or loan on a quarterly basis.
RRSP
Registered Retirement Savings Plan, a tax-deferred retirement savings plan available in Canada.
Annuity
An economic product that ensures a stable flow of income, primarily targeting individuals in retirement.
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