Difference in Interest Rates?

[justsomeone1]

.what is the difference between exact interest and ordinary interest?......with the increase of computers in banking, do you think that the ordinary interest method is a dinosaur in business today?

 

[jamesparker]

Exact interest is c calculated on 365 days per year and calculation of ordinary interest is based on yearly computation as 12 equal months of 30 days each or 360 days per year.




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ATM Machine

 

[donjon]

i must say it is nice and informative share