If you were to invest your money, which term would you use to compute the interest on your investment: exact or approximate time? Justify your answer in two to three sentences.If you're borrowing money, which type of simple interest (exact or ordinary) would save you more money if the interest rate and time for loans were exactly the same? Explain your answer in two to three sentences.

When investing money, you would use exact time to compute the interest on your investment. This is because exact time considers the actual number of days in a year (365 or 366 in a leap year), providing a more accurate calculation of your returns.

If you're borrowing money, ordinary simple interest would save you more money if the interest rate and time for loans were exactly the same. This is because ordinary interest is calculated based on a 360-day year, which results in a lower amount of interest compared to exact interest calculated on a 365-day year.

When investing money, you would use exact time to compute the interest on your investment. This is because exact time considers the exact number of days for which the money is invested, providing a more accurate calculation of the interest earned.

If you're borrowing money, ordinary simple interest would save you more money if the interest rate and time for loans were exactly the same. This is because ordinary interest is calculated based on a 360-day year, as opposed to exact interest which is calculated based on a 365-day year. Therefore, the interest charged would be slightly less with ordinary interest.