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Simple Interest
Interest determination based strictly on the principal sum, thereby excluding any interest that may have accrued in past periods from the calculation.
Non-Interest-Bearing
Pertaining to debt or security that does not earn interest over time, usually issued at a discount to its redemption value.
Simple Interest
The calculation of interest that exclusively considers the initial amount of money deposited or borrowed, without compounding.
Promissory Note
A budgetary instrument which holds a written assurance from one party to compensate another with a predetermined sum of money, either instantly on demand or at a pre-agreed date.
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