Interest that is paid solely on the amount of the original principal value is called ____ interest.

Name: Interest that is paid solely on the amount of the original principal value is called ____ interest.
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Simple interest is interest that is calculated on the original principal amount only, without considering any additional interest that has accrued. It is usually calculated as a percentage of the principal amount for a certain period of time.

Interest That Is Paid Solely on the Amount of the Original