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

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 ...

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

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 ...

Taylor Medine is a staff writer at Forbes Advisor who demystifies complex money topics to help everyday people make more informed financial decisions. Over her nearly a decade of experience, Taylor's ...

Simple interest is paid only on the principal, e.g., a $10,000 investment at 5% yields $500 annually. Compound interest accumulates on both principal and past interest, increasing total returns over ...

The TI-83 scientific calculator includes a finance-solving application that can do advanced calculations about the time value of money. It can also solve the basic equation for simple interest, which ...

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 ...

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 ...