Calculating the interest rate on a personal loan can be difficult. Most lenders use simple interest rather than compound interest, though, which makes the job a little easier. To calculate how much ...

With close to a decade of writing and editing experience, Maisha specializes in service journalism and has produced work in the lifestyle, financial services, real estate, and culture spaces. She uses ...

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 ...

Discover how simple interest benefits borrowers in car loans and consumer purchases, and learn why it might not be ideal for investors seeking compounded returns.