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Elena L [17]
3 years ago
11

The Banker's Rule is another type of simple interest computation that is similar to ordinary simple interest computation. It is

based on a 360-day year, but you use the actual number of days in the term when calculating interest. Does this benefit the lender or the borrower? Explain.
Mathematics
1 answer:
kaheart [24]3 years ago
5 0

Answer:

it would appear tp benefit the borrower. if interest (which is paid by the borrower) is computed on a 360 day year and there are 365 days in a year....

one could consider the "Bankers Rule" to give the borrower 5 "free" days of no interest paid

Step-by-step explanation:

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