Share the Definition of simple interest on Twitter Twitter Kids Definition simple interest noun : interest paid or figured on the original amount only of a loan or on the amount of an account Legal Definition simple interest see interest sense 5 Last...
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Define simple interest. simple interest synonyms, simple interest pronunciation, simple interest translation, English dictionary definition of simple interest. n. Interest paid only on the original principal, not on the interest accrued. American Heritag
Illustrated definition of Simple Interest: Interest calculated as a percent of the original loan. Example: a 3-year loan of 1,000 at 10 costs 3 lots...
Simple interest definition According to the Consumer Financial Protection Bureau (CFPB), interest is the price borrowers pay for borrowing money. But there are different types of interest and ways of calculating it. Simple interest uses a fixed rate to determine the amount of interest owed or accu...
What is simple interest? Definition Simple interest is a way to calculate how much interest will be charged on a sum of money at a specific rate and for a particular time duration. The interest rate will not be modified by any interest accrued; it will only apply to the principal amount ...
simple interest.A definition of the term "simple interest" is presented. It refers to the interest charged simply as a constant percentage of principal and not compounded.EBSCO_bspBloomsbury Business Library Business & Management Dictionary
simple interest(noun) life(noun) pure(adjective) simple/ˈsɪmpəl/adjective simpler;simplest Britannica Dictionary definition of SIMPLE [or more simple; most simple] 1 :not hard to understand or do asimpletask The solution to the problem was relativelysimple. ...
Definition If you're looking for a loan, finding the most affordable option is important. While interest rate is a big factor, the way the interest is calculated can be just as important. Add-on interest loans tend to favor the lender, resulting in more money paid, even if the loan is...
Interest is defined as the cost of borrowing money or the rate paid on a deposit to an investor. It can be classified as simple interest or compound interest.