Use the exact interest method (365 days) and the ordinary interest method (360 days) to compare the amount of interest for the following loans.
Principal Rate (%) Time (days) Exact Interest Ordinary Interest
__________________________________________________________________________
$45,000 13 100 $1,602.74 $1,625.00
__________ _________
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Single Variable Calculus: Early Transcendentals, Volume I
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Essentials Of Statistics For Business & Economics
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