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One item is filed under this topic.
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The percent-day method |
2010-12-04 |
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From Kenneth:
I read about this method in an old business mathematics book and was curious about how it works to produce the correct answer.
“Percent-day method is based on 360 days’ time and 1% interest. Any interest rate multiplied by any number of days is equal to so many %-days.”
Example: 82 days at 5% equals 410%-days.
Answered by Penny Nom. |
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