Examlex
As a result of the digital revolution:
Compounded Monthly
Interest calculated on the initial principal and also on the accumulated interest from previous periods on a monthly basis.
RRSP
Registered Retirement Savings Plan, a savings account, registered with the Canadian government, that defers income taxes on retirement savings until withdrawal.
Accumulate
The act of gathering or collecting over a period of time, often resulting in an increase in quantity.
Ordinary Annuity
An annuity where the payments are made at the end of each period for a fixed length of time.
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