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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ECONOMIC and MONETARY UNION (EMU) is the European Union's economic and monetary convergence among member countries, culminating in the introduction of a single currency, i.e. the Euro.

PREDECESSOR AUDITOR is the auditor of a client for a prior year who no longer audits that client.

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