KingRome KingRome

27-06-2017
Mathematics

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How many days in a year is ordinary interest based on?

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memory100 memory100

27-06-2017

365 days are in a year

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27-06-2017

on the basis of a 360-day year or a 30-day month; ... would receive the original amount of the loan together with the agreed interest. ... 360 days = 1 year; 30 days = 1 month; 365 days = 1 year.

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