The Banker's Rule is the same as the exact interest method.

Name: The Banker's Rule is the same as the exact interest method.
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The Banker's Rule, also known as the 360-day year method, calculates interest assuming a year has 360 days, whereas the exact interest method calculates interest based on the actual number of days in a year, typically 365 or 366 in a leap year.

The Banker's Rule Is the Same as the Exact Interest