Examlex
Lewis Terman's widely used American revision of Binet's original intelligence test was the
Ordinary Simple Interest Rate
The standard rate at which interest is calculated on a loan or investment, based on the original principal amount only.
360-Day Year
A simplified method of calculating interest using a 360-day year instead of 365 days, commonly used in banking.
Exact Simple Interest
Refers to interest calculated precisely on the principal amount of a loan or investment, without compounding, over a specific time period.
365-Day Year
A method of interest calculation that uses a full calendar year to determine the amount due.
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