Ordinary interest using the exact time method is sometimes called the Banker's Rule.

Name: Ordinary interest using the exact time method is sometimes called the Banker's Rule.
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This is true. The Banker's Rule is a method of calculating interest that takes into account the exact number of days in a month and the exact number of days in a year. It is often used by banks and financial institutions to calculate interest on loans and investments.

Ordinary Interest Using the Exact Time Method Is Sometimes Called