Abstract
Interest is a payment for the use of money, stated as a rate per cent per annum (abbreviated to p.a.), i.e. per £ 100 for one year. The amount payable depends upon:
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(a)
The sum of money lent—called the Principal.
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(b)
The duration of the loan.
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(c)
The rate of interest charged.
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© 1977 Harold Ward
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Ward, H. (1977). Simple Interest. In: Business Arithmetic. Palgrave, London. https://doi.org/10.1007/978-1-349-03028-6_10
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DOI: https://doi.org/10.1007/978-1-349-03028-6_10
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-19790-5
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