Simple interest
Defined in 2 dictionaries — Ballentine's (1916), Black's (1910)
Ballentine's Law Dictionary
James A. Ballentine · 1916
Interest computed at the agreed percentage rate from the time when it is agreed to begin to the time when it is agreed to be paid. See 3 Dak. 449, 22 N. W. 594. Cf. Compound interest.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
that which is paid for the principal or sum lent, at a certain rate or allowance, made by law or agreement of parties.
Defined under Legal interest in Black's Law Dictionary.