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Exact Simple Interest Rate
The percentage of the principal amount (the initial sum of money borrowed or invested) that is paid as interest for a specified period, not accounting for compound interest.
365-Day Year
A conventional method used in finance to standardize the number of days in a year for interest calculation purposes.
Exact Simple Interest
Interest calculated linearly on the principal amount, where the calculation is based precisely on the time period involved.
365-Day Year
A method of calculating interest that assumes all years have 365 days, used in some financial contexts.
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