simple interest
Principal-only rate calculation
Simple interest is interest calculated only on the original principal, not on any accumulated interest.
If you borrow $1,000 at 5% simple interest for three years, you owe $150 in interest—the same $50 each year.
This contrasts with compound interest, where interest accrues on previous interest.
Simple interest appears in some consumer loans and short-term lending.
Chief school administrator
- rateMeasured speed or charge
- timeMeasured passage of moments
- formulaFixed method or notation
- percentageProportion out of hundred
multiplication · annual · periodic · compute · arithmetic · decimal · proportion · math
One who takes temporarily
- lenderOne who loans money
- loanBorrowed money repaid later
- debtMoney owed another
- repaymentGiving back what's owed
installment · term · maturity · due · schedule · collateral · default · promissory note
Place for safekeeping
- savingsAccumulated money kept
- accountRecord of dealings
- certificateFormal written attestation
- fixed depositSavings locked for set period
bank · balance · passbook · time deposit · money market · return · earnings · yield
Not mixed together
- flatLacking vertical variation
- linear growthIncrease at constant rate
- one-timeOccurring only once
- basicFundamental in nature
elementary · uncomplicated · beginner · introductory · fundamental
principal
Chief school administrator
percentage · multiplication · annual · periodic · compute · arithmetic · decimal · proportion · math · numeric
borrower
One who takes temporarily
repayment · installment · term · maturity · due · schedule · collateral · default · promissory note · credit
deposit
Place for safekeeping
- savingsAccumulated money kept
- accountRecord of dealings
- certificateFormal written attestation
fixed deposit · bank · balance · passbook · time deposit · money market · return · earnings · yield · payout
uncompounded
Not mixed together
- flatLacking vertical variation
- linear growthIncrease at constant rate
- one-timeOccurring only once
basic · elementary · uncomplicated · beginner · introductory · fundamental
- savingssavings account, piggy bank, online savings, savings bonds, savings plan
- interestcuriosity, fascination, attention, concern, stake
- mathaddition, subtraction, multiplication, division, algebra
- financebank, CFO, banks, controller, finance
- practical mathpercentages, fractions, decimals, measurement, estimation
- ratestax rate, exchange rate, mortgage rate, loan rate, discount rate
simple, interest, simplicity, simplify, simplified, simpler, simplest, simpleton, simplistic