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Real Estate Definition - simple interest

simple interest - interest paid on a deposit account or debt that is not compounded or amortizing. Usually short term. Interest may be payable periodically with the total due in a lump sum at the end of the term (a straight note), or the interest and principal may be due together at the end of the term. For example, a $100,000 loan at simple interest for one year at 8% would require a total payment of $108,000. See also interest-only loan and straight note.



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