There are two different ways of calculating interest -- simple and compound. Here's how to calculate each, as well as the key differences and similarities between the two. Simple interest is well, ...

There are two main types of interest that you’ll have to pay when you borrow money to pay for something: compound interest or simple interest. Simple interest, as it sounds, is the simplest and the ...

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 ...