Examlex
Which of the following terms refers to several peers agreeing to rate each other highly?
Simple Interest
Interest calculated only on the principal amount, or on that portion of the principal amount which remains unpaid.
Exact Interest
A redefined term referring to the method of calculating interest based on a 365-day year, highlighting the precision in financial computations.
365-Day Year
A calendar year consisting of 365 days, not accounting for leap years which have 366 days.
Total Amount
The full sum resulting from the addition of all parts, quantities, or figures.
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