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Matt, an eleven-year-old boy, got into a fight with his classmate and bruised his arm. He plans to lie to his parents about the bruise as he is afraid that they will scold him. However, he feels that good boys should not lie and decides to tell them the truth. According to Kohlberg's theory of moral development, which of the following stages of development does Matt display?
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.
365-Day Year
A conventional method used in finance that assumes all years have 365 days for the purpose of interest calculation.
Exact Simple Interest
Interest calculated precisely on the principal amount, without compounding, for a specific time period.
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