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 ...

Knowing your loan's interest rate matters, as does learning how that rate is calculated. Interest is either simple or compound. If you have a simple interest loan, interest is based only on the ...

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 ...