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TeachMeFinance.com - explain Compound interest note historic definition... Compound interest note -- A legal tender note issued by the government in the War of the Rebellion. It was payable in three years with interest at 6 per cent, compounded semiannually, the interest being payable with the principal at maturity. The ten-dollar note, which was the smallest issued, was worth $11.94 at maturity. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.