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What is the grapevine and what are its main characteristics?
365-Day Year
A method used in finance that assumes a year has 365 days and is used for calculating interest rates or other financial metrics.
Total Amount
The complete sum of money required or received, often including principal, interest, taxes, and fees.
Ordinary Interest
Interest calculated on the basis of a 360-day year, which is commonly used in calculating interest for loans, mortgages, and bonds.
360-Day Year
An accounting method that simplifies interest calculation by assuming all months have 30 days, resulting in a 360-day year.
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