Under the simple interest method, interest is charged/earned only on the principal amount and there is no interest on interest.
Interest is defined as the cost of borrowing money. It can also be the rate paid for money on deposit, as in the case of a certificate of deposit. Interest can be calculated in two ways: simple interest or compound interest. Simple interest is calculated on the principal, or original, ...
The meaning of SIMPLE is free from guile : innocent. How to use simple in a sentence. Synonym Discussion of Simple.
Simple interest is an easy way to look at the charge you'll pay for borrowing. The interest rate is calculated against the principal amount and that amount never changes, as long as you make payments on time. Neither compounding interest nor calculation of the interest rate against a growing ...
The meaning of SIMPLE is free from guile : innocent. How to use simple in a sentence. Synonym Discussion of Simple.
Definition Simple interest is the cost of borrowing money without accounting for the effects of compounding. In other words, simple interest only applies to the principal amount. This means the interest is calculated only on the original amount of money borrowed or invested, not on any interest ...
or Compound Interest. Simple interest is generally based on the principal amount of a loan or deposit whereas Compound Interest is based on the principal amount and also on the interest that accumulates on the principal every period. We have already discussed this in the SI vs CI definition. ...
百度试题 题目 With simple interest , the interest is not reinvested, so interest is earned each period only on the original principal. A.正确B.错误 相关知识点: 试题来源: 解析 A 反馈 收藏
[1] "Simple Interest" (Definition) at Answers.com [2] "Principal" (Definition) at Answers.com Simple Interest Calculator at WebMath.com - This calculator uses the simple interest formula and explains it well (it's not just an "easy" calculator). How Does Simple Interest Work at mtgprofes...
simple interest = 1000 X 10% X 3 = 300So, the sum of principal and interest is 1300compound interest1st year: interest = 1000 X 10% = 100 sum 11002nd year: interest = 1100 X 10% = 110 sum 12103rd year: interest = 1210 X 10% = 121 sum 1331As an example, consider a three-mo...