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MATCHING Match Each Description with the Item Below

question 56

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MATCHING
Match each description with the item below.
-John Tyler


Definitions:

Ordinary Simple Interest

Interest calculated on the principal amount of a loan or investment based on a simple interest rate, without the compounding factor.

360-Day Year

An accounting approximation that treats all months as having 30 days, used in calculating interest with a simplified approach.

Ordinary Simple Interest

Interest calculated on the principal amount of a loan or deposit, based on a simple interest rate over a specified period.

360-Day Year

A simplified calculation method used in finance, assuming a year consists of 360 days for the purpose of interest calculation.

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