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Let's look at exactly and exact.

You use exactly to show something is just right or very true. It is an adverb. For example, You did it exactly right!

Exact is an adjective, and it describes something very correct or precise, like in the exact time.

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She knew the BLANK time of the meeting.

She arrived BLANK at 3 pm.

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exact

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This word is an adjective, describing the noun time.

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exactly

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This word is an adverb, showing that her arrival time was very precise.