SIMPLE INTEREST Definition

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SIMPLE INTEREST is interest computed on principal alone, as opposed to compound interest which includes accrued interest in the calculation.

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PROBABILITY PROPORTIONAL TO SIZE SAMPLING (PPS) is a sampling plan that bases the likelihood of selecting a particular account on the relative size of that account, so larger accounts have a greater probability of being selected for the sample than smaller accounts. Also known as dollar unit.

ESCROW ACCOUNT see TRUST ACCOUNT.

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