Examlex
Using the five criteria in the text, explain how Canadian currency is suitable to use as a medium of exchange.
Perpetuity
A financial instrument that provides a stream of infinite cash flows or payments.
Compounded Monthly
Interest calculated on the initial principal and also on the accumulated interest of previous periods, done monthly.
RRSP
Registered Retirement Savings Plan, a tax-deferred savings account in Canada that allows individuals to save for retirement while potentially reducing their taxable income.
RRIF
Registered Retirement Income Fund, a tax-deferred retirement plan in Canada that an individual can use to generate income from the assets inside their Registered Retirement Savings Plan.
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