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Ordinary Simple Interest
Interest calculated on the principal amount only, without compounding, over a specific period.
360-Day Year
An accounting convention used for interest calculations where the year is simplified to 360 days to ease the computation process.
Exact Simple Interest
Interest calculated on the principal amount of a loan or investment, considering the exact number of days in the interest period.
365-Day Year
A standard year length used in some financial calculations, ignoring leap years.
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