This is from another website. <span>Simple interest is money you can earn by initially investing some money (the principal). A percentage (the interest) of the principal is added to the principal, making your initial investment grow!</span>
A simple interest is is a quick method of calculating the interest charge on a loan. The Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments. I Hope This Helps .
