simple interest

noun

simple interest

See compound interest
interest calculated or paid on the principal alone Compare compound interest

simple interest

Interest computed only on the original principal and not on the sum of the principal plus accrued interest. The amount of simple interest remains constant.
Compare compound interest

First recorded in 1790–1800

Finally, Sir Joseph Banks joined the expedition, out of simple interest, anxious to employ his energy and fortune.

The mill and its contents earn for their operator nothing but simple interest on the money they have cost.

Savings from simple interest itself constitute the third contribution.

The present generation becomes debtor to him who excels, but the future will discharge that debt with more than simple interest.

After his death his estate paid nine years' simple interest on his deficit, and ten years thereafter, the principal was paid.

April 19, 2024tortuous

[tawr-choo-uhs ]

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