Simple Interest/Examples/Arbitrary Example 1
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Examples of Simple Interest
The Interest on $\pounds 1000$ borrowed at $8 \%$ simple interest per annum is $\pounds 80$ per annum.
Sources
- 1998: David Nelson: The Penguin Dictionary of Mathematics (2nd ed.) ... (previous) ... (next): interest
- 2008: David Nelson: The Penguin Dictionary of Mathematics (4th ed.) ... (previous) ... (next): interest