Examlex
What makes a source credible?
RSP
Registered Savings Plan, a financial account in Canada designated for holding savings and investment assets, with special tax benefits for retirement savings.
Monthly Compounded
Pertains to interest or any financial metric that is calculated and added to the principal balance every month.
Nominal Rate
The stated interest rate of a bond or loan, not accounting for compounding or inflation effects.
Annually Compounded
An investment or interest calculation method where the interest earned over the year is added to the principal at year-end, affecting the amount earned the following year.
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