simple interest

Interest paid on the principal only and not on accumulated interest.

• Interest accrues only on the principal balance regardless of how often interest is paid.

— Also termed straight-line interest. Cf. compound interest. [Cases: Interest 60. C.J.S. Interest and Usury; Consumer Credit§§ 6, 71.]

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词条贡献者

法律翻译Glen，毕业于英国一流的高级翻译学院，专注翻译各类与交易架构和策略有关的法律文件。