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Which of the following is the correct sequence of gestational events?
Ordinary Simple Interest
Interest calculated on the principal amount of a loan or investment, based on a simple calculation and not compounded.
360-Day Year
A simplified accounting method that assumes there are 360 days in a year, used for calculating interest and other financial metrics.
Principal
The original sum of money borrowed in a loan, or the initial amount of investment, excluding interest or profit.
Ordinary Simple Interest
Interest calculated on the principal amount only, without compounding, over a specific period.
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