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

译者圣强，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，擅长翻译各种与房地产交易及建筑纠纷相关的法律文件。