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Two lamps, one with a thick filament and one with a thin filament, are connected in parallel. The current is greater in the lamp with the
Effective Rate
The actual interest rate earned or paid on an investment, loan, or other financial product, taking into account the effect of compounding.
Ordinary Interest
A method for calculating interest based on a 360-day year.
360-Day Year
A 360-day year is an accounting practice that treats each month as having 30 days, simplifying interest calculations in the financial industry.
Total Amount
The aggregate sum resulting from the addition of numbers, amounts, objects, etc.
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