Study guides
Simple interest: when to use 360 or 365 days
Count the days, choose the year basis, and find interest and maturity value with a side-by-side example.
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Study guides
Bank discount: find proceeds and compare interest
See why the amount received differs from the amount repaid, and why a discount rate is not the rate on cash received.
Study guides
Compound interest and present value, step by step
Match the rate to the compounding period, grow a deposit, and reverse the calculation to find a present value.