compound interest
Interest paid on both the principal and the previously accumulated interest. Cf. simple interest. [Cases: Interest 60; Usury 49. C.J.S. Interest and Usury; Consumer Credit§§ 6, 71, 156.]
Interest paid on both the principal and the previously accumulated interest. Cf. simple interest. [Cases: Interest 60; Usury 49. C.J.S. Interest and Usury; Consumer Credit§§ 6, 71, 156.]