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So ordinary interest is 30 days collecting or gathering interest on a dollar and exact is collecting or gathering 1 year interest on a dollar.

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Q: What is the difference between ordinary interest and exact interest?
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Related questions

Difference between Exact interest and Ordinary interest?

Interest that is based on a 360-day year instead of a 365-day year. In contrast, exact interest is based on a 365-day year. If large sums of money are involved, the difference can be significant


Example of ordinary and exact interest?

example of ordinary interest


What is the exact and ordinary interest computation?

t= numbers of days ordinary interest= Pr no. of days/ 360 days exact interest= Pr no. of days/ 365 days


The formula for ordinary interest using exact time is?

The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.


What is the difference between an approximate answer and the exact answer?

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What is the difference between the approximate answer and an exact answer?

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What is the difference between an approximate answer and an exact answer?

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What is the difference between an approximate answers and an exact answers?

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What is the exact term for difference between maximum and minimum?

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What is the difference between exact and estimate?

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What is the difference between biome and life zone?

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What is the exact time between UK and Romania?

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