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It is a type of interest where the interest is computed based on the principal value only

It is a type of interest where the interest is computed based on the principal value only
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It is a type of interest where the interest is computed based on the principal value only

User Jakie
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Simple interest is based on the principal amount of a loan or deposit. ... Simple interest is calculated only on the principal amount of a loan or deposit, so it is easier to determine than compound interest.
User Toral
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