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
Cement or mortar with a high moisture content developing it into a slurry solution allowing the ability to be poured or pumped into crevices, fissures, and masonry cracks and joints. ...
Early American frontier-style house constructed of logs. Since finished lumber was not readily available during the early frontier period of American history, homes were often fashioned out ...
Unrealized gain in value of real property from holding it. The increase value is not recognized in the accounts. When the property is sold there will be a realized gain or loss. ...
Monthly fixed rental payment. ...
A backfill defines the act of replacing a vacant lot. People use a backfill as a replacement for an unoccupied position. Backfill in construction and archaeology! The most common ...
Any structure projecting from a wall or other vertical element for the purpose of providing support for a weight or other object. ...
The act or removing or dispossessing or expulsion of an individual from a premise by force or law. ...
A public foreclosure sale where public notice is given anyone is allowed to participate. Normally, a public sale occurs because of the property owner's failure to pay taxes. ...
Legal right or privilege, such as that arising from a contract, to use land owned by another person or business for a specific purpose. The use should be reasonable for the circumstances. ...
Have a question or comment?
We're here to help.