simple interest Antonyms
No Synonyms and anytonyms found
Meaning of simple interest
Wordnet
simple interest (n)
interest paid on the principal alone
simple interest Sentence Examples
- The bank offered a simple interest rate of 5% per annum.
- Calculating simple interest involves multiplying the principal by the interest rate and the time period.
- Banks typically offer simple interest accounts for short-term savings.
- The formula for simple interest is I = P * R * T, where I is interest, P is principal, R is the rate of interest, and T is the time period.
- Simple interest is independent of the frequency of compounding.
- In simple interest calculations, the interest earned is added to the principal at the end of the time period.
- Government bonds often pay simple interest on a semi-annual basis.
- Loans with higher principal amounts tend to accumulate more simple interest than those with lower principal amounts.
- The simplicity of simple interest makes it a popular calculation method for estimating interest earned.
- By understanding simple interest, individuals can effectively plan their savings and investments.
FAQs About the word simple interest
interest paid on the principal alone
No synonyms found.
No antonyms found.
The bank offered a simple interest rate of 5% per annum.
Calculating simple interest involves multiplying the principal by the interest rate and the time period.
Banks typically offer simple interest accounts for short-term savings.
The formula for simple interest is I = P * R * T, where I is interest, P is principal, R is the rate of interest, and T is the time period.
