Simple Interest
Definition of "Simple interest"
Interest computations based only on the original principal. For example, the simple interest on a $100,000, 8% loan is $8,000. It is compared with compound interest which is applied to the original principal and accumulated interest. For example, $100 deposited in a savings account at 10% simple interest would yield the interest of $10 per year (10% of $100). The same $100 at 10% interest compounded annually would yield $10 interest in the first year. In the second year, however, the interest will be $12,10 (10% of $110, the first year's principal and interest).
Popular Real Estate Terms
An easement granted to a public utility. ...
A roof having two slopes on each side. The second slope is longer than the first part of the roof and extremely steep. ...
(1) Financial ability and soundness of a business or individual to afford the purchase of property. (2) Worth of the dollar in real terms considering inflation. ...
A noncurrent loan in which the principal, interest, or maturity is related to a particular index. Therefore, period adjustments are necessary to conform to the change in the applicable ...
The legal requirement of a debtor, obligor, to pay a debt and the legal right of a creditor, obligee, to demand satisfaction of a debt or enforce payment in the event of default. ...
Also known as adjoining landowners or abutting owners, adjoining owners are property owners whose property touches a common property. The definition of adjoining property owners is those ...
Heat resistance measure commonly used with insulating material, outside walls, and roofs. The higher the R value, the more heat transfer resistance a material has." ...
See concrete block. ...
Waterproofing the joint of a roof. ...
Have a question or comment?
We're here to help.