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Single Spaced or No Spacing
There is no strict rule for spacing for business letters. The standard is single spacing with a blank line separating each part (date, address, greeting, paragraphs, etc.) of the letter. Some legal organizations prefer double spaced letters the same as for legal documents.
What is continuation line in business letter?
2 spaces
times new roman 12 point font and single spacing is probably acceptable as well as double.