Business terms and jargon explained. Your business dictionary
What is Simple Interest
This is where interest is charged on the initial amount borrowed or invested only.
E.g 100k is borrowed.
Interest at 10% is 10K
After the first year there will be an amount owning of 110k. the interest for the second year will be calculated on the 100k(original amount) rather than the 110k.
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Term created / updated 2006-07-30 16:21:41
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