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Federal Reserve Banks as well as the Federal government like to calculate simple interest based on:
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Asked 4/7/2012 6:51:21 PM
Updated 3/9/2014 12:15:40 AM
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User: Federal Reserve Banks as well as the Federal government like to calculate simple interest based on:

Weegy: Simple interest is calculated only on the principal amount, [ or on that portion of the principal amount that remains unpaid.The amount of simple interest is calculated according to the following formula: I_{simp} = r \cdot B_0 \cdot m where r is the period interest rate (I/m), B0 the initial balance and m the number of time periods elapsed. ]
shifa saleheen|Points 9603|

Question
Asked 4/7/2012 6:51:21 PM
Updated 3/9/2014 12:15:40 AM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by jeifunk [3/9/2014 12:15:40 AM]
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Federal Reserve Banks as well as the Federal government like to calculate simple interest based on: EXACT INTEREST.
Added 3/9/2014 12:15:39 AM
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