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simple interest

interest payable only on the principal; interest that is not compounded.
Origin of simple interest
1790-1800 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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British Dictionary definitions for simple-interest

simple interest

interest calculated or paid on the principal alone Compare compound interest
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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simple-interest in Science
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.
The American Heritage® Science Dictionary
Copyright © 2002. Published by Houghton Mifflin. All rights reserved.
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