Discover how simple interest benefits borrowers in car loans and consumer purchases, and learn why it might not be ideal for ...

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 ...