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Consider a deer that runs from point A to point B. The distance the deer runs can be greater than
the magnitude of its displacement, but the magnitude of the displacement can never be greater
than the distance it runs.
Interest Payment
The amount paid at intervals by the borrower to the lender for the use of borrowed money, typically expressed as a percentage of the principal.
Simple Interest
Interest calculated only on the principal amount, or on that portion of the principal amount that remains unpaid.
Months
Units of time used in accounting and financial contexts to represent periods or durations, often for reporting, planning, or measurement purposes.
Promissory Note
A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.
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