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Simple English definitions for legal terms

add-on interest

Read a random definition: customs frontier

A quick definition of add-on interest:

Add-on interest is a type of interest that is added to a loan upfront, meaning it is calculated and added to the total amount borrowed at the beginning of the loan. This means that the borrower will pay interest on the entire loan amount, including the interest that has already been added. It is important to understand the terms of a loan and the type of interest being charged to make informed financial decisions.

An address is the place where mail or other communication is sent. It is important to have a correct address so that mail and packages can be delivered to the intended recipient. In some states, an address can also refer to a formal request made by a legislature to the executive to do a particular thing, such as removing a judge from office. In equity practice, an address can refer to the part of a bill in which the court is identified.

A more thorough explanation:

Definition: Add-on interest refers to the interest that is calculated and added to the principal amount of a loan at the beginning of the loan term. This means that the borrower pays interest on the entire loan amount, including the interest that has already been added.

Let's say you take out a $10,000 loan with a 10% add-on interest rate for a term of 2 years. The interest that will be added to the principal amount at the beginning of the loan term will be $2,000 (10% of $10,000). This means that the total amount you will have to repay at the end of the loan term will be $12,000 ($10,000 principal + $2,000 interest).

Another example would be a credit card that charges add-on interest. If you have a credit card with a $1,000 limit and a 20% add-on interest rate, the interest that will be added to your balance at the beginning of the billing cycle will be $200 (20% of $1,000). This means that if you don't pay off your balance in full, you will be charged interest on the entire balance, including the interest that has already been added.

These examples illustrate how add-on interest works and how it can increase the total amount you have to repay on a loan or credit card balance.

addone | address to the Crown

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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