How much of your income can your retirement savings replace? It's a simple yet important question. It can also make your head spin and long for the days of pension plans. Yet there is an easy way to ...

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 ...

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 ...

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Simple interest is calculated only on the principal balance of the loan each period.

Discover what a factor rate is and how to calculate it.