​In each problem, (1) compute the actual exact interest (365-day year) and (2) estimate the interest by rounding the principal to the nearest hundred dollars. For each estimate, assume that a year has 360 days and use the given suggestion to create a shortcut.
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Learning Objectives

• Distinguish between the calculations of ordinary interest (based on a 360-day year) and exact interest (utilizing a 365-day year).
• Utilize mathematical abilities to calculate standard and precise interest.
• Acquire proficiency in the technique of rounding numbers to the nearest cent for financial computations.