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Diagnostic tests are given not only to identify student strength and weaknesses, but are also given to document a student's initial or continuing eligibility for ______ _______.
360-Day Year
A financial convention or calculation basis where the year is assumed to consist of 360 days rather than 365 or 366 days, often used in interest rate calculations.
Ordinary Simple Interest Rate
The standard method of calculating interest, typically based on the original loan amount, rate, and time.
360-Day Year
A conventional method in finance where the year is assumed to have 360 days for simplifying interest rate calculations, commonly used in commercial lending.
Exact Simple Interest
Interest calculated based on the actual number of days in the loan period divided by the exact number of days in a year, typically 365 or 366.
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