Accrued Interest

Interest earned on a member's loan or debt that has not yet been paid or added to the principal.

More Details

Accrued interest is the interest that has accumulated on debt that has not yet been paid or added to the principal, over a specific period of time. This interest has not yet been paid, but it is owed by the borrower to the lender and must be paid at some point in the future.

Example

If you take out a loan with an annual interest rate of 10%, the accrued interest on the loan after six months would be 5% of the principal amount borrowed.

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