A simple interest loan calculates the interest based only on the principal you owe. It stands in contrast to a compound interest loan, which calculates interest based on principal and any outstanding ...

Whether you are paying interest or being paid interest, it's important to fully understand how that interest is calculated. There are two basic types of interest: simple and compound. How each type is ...

Knowing your loan's interest rate matters, as does learning how that rate is calculated. Interest is either simple or compound. Are Personal Loans a Good or Bad Idea? Taking out a personal loan can ...