Examlex
What is object language? Provide an example of how object language might affect business communication.
Exact Simple Interest
Interest calculation method using a 365-day year that does not account for the effect of compounding.
365-Day Year
A method used for calculating interest based upon a calendar year, counting all 365 days (or 366 in a leap year), typically used for more precise financial calculations.
Ordinary Simple Interest
Interest calculated on the principal amount of a loan or deposit, based on a simple calculation without compounding.
360-Day Year
An accounting method where the year is assumed to have 360 days, simplifying interest calculation by using 30-day months.
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