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Using 360 rather than 365 days makes the interest charged:
ALevel
BLarger
CLighter
DLesser
Answer & Solution
Correct answer: B. Larger
1. The day count sits in the denominator.
2. A smaller denominator gives a bigger result.
3. The interest works out larger.
_Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_
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