On the surface, an interest rate is just a number. How that number applies to debt or equity opens up a world of possibilities. The first consideration is always whether it’s simple interest vs.

When you borrow money, you’ll also pay interest on top of the amount you borrowed.. Interest is the money the lender gets for loaning you the money. Read Next: 5 Subtly Genius Moves All Wealthy People ...

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 ...

Learn how add-on interest increases loan costs compared to simple interest. Discover the formula, examples, and its implications for borrowers.

Calculating the interest earned in your checking or savings accounts during a bank statement period can help you prepare an accurate budget. You don't necessarily need to use a special checking ...