Simple Interest Is the Interest Computed Based on the Principle

question 83

True/False

Simple interest is the interest computed based on the principle, excluding previously earned interest.

---

Definitions:

Land

A natural resource that encompasses the earth's surface, excluding water bodies, and can include the resources above and beneath the surface area.

Tort Law

The area of law that deals with civil wrongs and damages to a person’s body, property, reputation, or rights, not involving a contract.

Punish Wrongdoers

The act of imposing a penalty on individuals or entities that have violated laws or regulations.

Damages

Compensation claimed by or ordered to be paid to a person for loss or injury.