Simple interest refers to interest that's calculated solely based on the principal, and not any interest that has already accrued. The general formula for computing simple interest is: For example, if ...

Principal is the amount you borrowed, and interest is the amount you pay to the lender as a charge for borrowing. To calculate interest, multiply the principal amount by the interest rate, then ...

Savings accounts will earn interest on the amount of money deposited into the account. The formula to calculate simple interest in a savings account is the deposit amount times the annual interest ...

Calculating Simple Interest is an excellent method to judge your savings in advance. However, calculating it for various interests and principal sums could be complex. This is where Excel comes to ...

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, ...

When you plan a personal loan, understanding how interest works is just as important as knowing the loan amount. Many people ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

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 ...

Source: Flickr user Dafne Cholet. Simple interest refers to interest that's calculated solely based on the principal, and not any interest that has already accrued. The general formula for computing ...