Examlex
Which of the following is synonymous with work specialization?
Simple Interest
Interest calculated only on the initial amount of money deposited or loaned, not on any interest accrued over time.
Ordinary Interest
Interest calculated based on a 360-day year, often used in banking for loans and savings.
Exact Interest
Interest calculated based on the actual number of days in a year or a specific time period, often used in financial transactions.
Exact Interest
A precise calculation of interest accrual that adheres strictly to the actual number of days in the calendar year, often set at 365 or 366 days.
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