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Figure 4-1
-Refer to the Figure 4-1. What is the movement from S1 to S called?
Simple Interest
Interest calculated solely on the principal amount of a loan or investment, without compounding over time.
360-Day Year
This is a simplified method used in some financial calculations where the year is assumed to have 360 days for ease of interest computation.
Total Amount
The complete sum or quantity of something, encompassing all components or elements.
Ordinary Interest
Interest that is calculated based on a 360-day year, often used in banking and finance for simplifying interest calculations on loans and investments.
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