interest paid on both the principal and on accrued interest.
4 Ways To Structure Your SentencesThe four types of sentence structures are simple, compound, complex, and compound-complex. The quantity and arrangement of clauses determines the makeup of each type of sentence structure. A clause is a grouping of words with both a subject and a verb that can (but doesn’t always) form a sentence. If the clause can form a complete thought on its own, it’s considered an independent clause. …
How Do You Use Hyphens?The shortest of the dashes, hyphens (–) link words and parts of words. They can connect prefixes or break up a word at the end of a line of text. They can also combine two or more words that describe a noun. For example, in George Orwell’s 1984, hyphenated words help create unusual descriptive phrases: “He felt deeply drawn to him, and not solely because …
Origin of compound interest
First recorded in 1650–60
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for compound interest
interest calculated on both the principal and its accrued interestCompare simple interest
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Science definitions for compound interest
Interest computed on the original principal plus any accrued interest. Thus if 5% is the rate of interest per year and the principal is $1000, the compound amount after one year will be $1050, after two years it will be $1050 X 0.05 = $1102.50, after three years it will be $1102.50 X 0.05 = $1157.63, and so forth. Mathematically, if P is the original principal and I the rate of interest expressed as a decimal, the compound amount at the end of the nth year will be P(1 + I)n. The growth of the compound amount is exponential and not linear. Compare simple interest.
The American Heritage® Science Dictionary Copyright © 2011. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Culture definitions for compound interest
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.