SIMPLE INTEREST
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Simple interest relies on the principal quantity of a loan or the primary deposit during a bank account. interest doesn't compound, thus associate account holder can solely get interest on the principal, and a receiver can ne'er need to pay interest on antecedently accumulated interest. the number cash|of cash} a loaner or financial institution earns for disposition out money is thought as interest. Interest can even talk over with a stockholders share of possession during a firm, that is often expressed as a share..Interest is that the cash you either owe once borrowing or square measure paid once disposition cash. once you owe interest, it's calculated as a share of the loan you've got taken. You earn interest once you lend cash or deposit funds into AN fixed cost checking account.
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