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LSDefine

Simple English definitions for legal terms

anatocism

Read a random definition: innominate obligations

A quick definition of anatocism:

ANATOCISM: Anatocism is a big word that means when you borrow money and have to pay back more than you borrowed because of interest. It's like when you plant a seed and it grows into a big tree, and then you get more seeds from the tree to plant and grow even more trees. It's the same with money, where you pay interest on the original amount borrowed, and then you have to pay interest on the interest too. This is called compound interest, and anatocism is the practice of doing this.

A more thorough explanation:

Definition: Anatocism is a rare term that refers to the practice of compounding interest or charging interest on interest.

Example: If you borrow $1000 at a 10% interest rate per year, after one year, you will owe $1100. If you continue to owe that amount and the lender charges an additional 10% interest on the $100 interest from the previous year, you will owe $1210 after two years. This is an example of anatocism.

The example illustrates how anatocism works by showing how interest can accumulate over time and increase the amount owed. It is important to understand the terms of a loan or investment to avoid unexpected charges or fees.

anathema | anatomical gift

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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