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 ...

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 ...

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 ...

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

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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 ...

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 ...

The simple interest formula is Interest = P * R * T. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Doretha Clemons, Ph.D., MBA, PMP, has been a corporate IT executive and professor for 34 ...

Principal is the amount you borrowed, and interest is the amount you pay to the lender as a charge for borrowing. To ...