Determine the Specified Calculation $2.462$ B) $0.757$ C) $1.32$ D) $0.406$

question 8

Multiple Choice

Determine the specified calculation.
-

• A)\(2.462\)
• B) \(0.757\)
• C) \(1.32\)
• D) \(0.406\)

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Definitions:

Ordinary Simple Interest

Interest calculated on the principal amount only, not on accrued interest over time.

360-Day Year

A simplified accounting method where each month is considered to have 30 days, resulting in a year total of 360 days, used in financial calculations.

Loan Period

The duration over which a borrower agrees to pay back a loan to the lender, typically expressed in months or years.

Ordinary Simple Interest

Interest calculated on the principal amount only, without compounding, usually over a period of a year or less.