Explain this!
Junior Member
- Joined
- Feb 7, 2019
- Messages
- 164
I have compared two calculations each one at 6% per year for a 360 calendar year:
A. (6/100)/year * 60/360 year * $600 (60/360/year is 60/360 for one year)
B. (6/100)/year * 1 year/360 days * 60 days * $600
Why would calculation B be preferred to calculation A? The years cancel in A; so why use calculation B with 1 year/360 days?
A. (6/100)/year * 60/360 year * $600 (60/360/year is 60/360 for one year)
B. (6/100)/year * 1 year/360 days * 60 days * $600
Why would calculation B be preferred to calculation A? The years cancel in A; so why use calculation B with 1 year/360 days?