Simple Interest Work Sheet

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6 Terms

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Interest

The amount of money a borrower pays to a lender for the temporary use of the lenders money; for the inconvenience that they cannot use it

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The borrower is also known as

The Debtor

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The Lender is also known as

The Creditor

4
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Principle (P)

The Initial money borrowed

5
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Maturity Valve or Future Value (M)

Principle plus interest

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Term

Time between principle and maturity value