simple interest
noun
: interest paid or computed on the original principal only of a loan or on the amount of an account
Examples of simple interest in a Sentence
Recent Examples on the Web
Most lenders use simple interest to calculate payments on a HELOC, rather than compound interest (where interest builds on top of interest).
—
Kelsey Neubauer, CNBC, 29 Oct. 2024
For terms of five to seven years, the penalty is 18 months’ simple interest.
—Andreina Rodriguez, CNBC, 10 Oct. 2024
All of the bank’s CDs have a minimum opening deposit of $1 and charge an early withdrawal penalty of 90 days simple interest.
—Andreina Rodriguez, CNBC, 8 Sep. 2024
The solution lies in a simple interest rate cap along with greater transparency, disclosure, and early judicial review of TPLF agreements.
—Claire F. Rush, New York Daily News, 16 Mar. 2024
Most auto loans are simple interest loans.
—Elizabeth Rivelli, Car and Driver, 30 Jan. 2023
For one-year terms, the penalty is 180 days’ simple interest.
—Ivana Pino, Fortune, 22 Oct. 2022
For one to three-year terms, the penalty is 180 days simple interest.
—Byivana Pino, Fortune, 12 Oct. 2022
Your bank charges a penalty that’s equal to, say, one year of simple interest.
—Nerdwallet, cleveland, 18 Dec. 2022
Examples are automatically compiled from online sources to
show current usage.
Read More
Opinions expressed in the examples do not represent those of Merriam-Webster or its editors.
Send us feedback.
Kelsey Neubauer, CNBC, 29 Oct. 2024
For terms of five to seven years, the penalty is 18 months’ simple interest.
—Andreina Rodriguez, CNBC, 10 Oct. 2024
All of the bank’s CDs have a minimum opening deposit of $1 and charge an early withdrawal penalty of 90 days simple interest.
—Andreina Rodriguez, CNBC, 8 Sep. 2024
The solution lies in a simple interest rate cap along with greater transparency, disclosure, and early judicial review of TPLF agreements.
—Claire F. Rush, New York Daily News, 16 Mar. 2024
Most auto loans are simple interest loans.
—Elizabeth Rivelli, Car and Driver, 30 Jan. 2023
For one-year terms, the penalty is 180 days’ simple interest.
—Ivana Pino, Fortune, 22 Oct. 2022
For one to three-year terms, the penalty is 180 days simple interest.
—Byivana Pino, Fortune, 12 Oct. 2022
Your bank charges a penalty that’s equal to, say, one year of simple interest.
—Nerdwallet, cleveland, 18 Dec. 2022
Dictionary Entries Near simple interest
Cite this Entry
“Simple interest.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/simple%20interest. Accessed 21 Nov. 2024.
Copy CitationLove words? Need even more definitions?
Merriam-Webster unabridged
Share