In the formula for computing the interest on a note,the time period represents the portion of a year that interest has accrued on the note.

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The time period in the formula for computing the interest on a note represents the portion of a year that interest has accrued. This is usually expressed as a fraction of a year, such as 1/2 or 1/4, depending on the terms of the note.

In the Formula for Computing the Interest on a Note,the