Clicking “Advanced Mode” will allow you to input the time frame in which the loan is taking place. It will also allow you to see the total interest amount in dollars. Time (Months of Years) Total ...

Learn how a simple interest calculator works, where it is used, and how linear interest differs from compounding in ...

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

Knowing your loan's interest rate matters, as does learning how that rate is calculated. Interest is either simple or compound. Are Personal Loans a Good or Bad Idea? Taking out a personal loan can ...

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 ...

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 ...

Money borrowed from commercial banks comes at a cost. This extra amount of money that a borrower has to pay back is known as interest, and the original sum is called principal. And the rate at which a ...

Simple interest is a straightforward method of calculating the interest charged on a loan. It applies a fixed interest rate to the principal amount for the entire loan term. Simple interest is ...