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. If you have a simple interest loan, interest is based only on the ...

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 simple interest is: For example, if ...

Savings accounts will earn interest on the amount of money deposited into the account. The formula to calculate simple interest in a savings account is the deposit amount times the annual interest ...

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 ...

Elvis Picardo is a regular contributor to Investopedia and has 25+ years of experience as a portfolio manager with diverse capital markets experience. Suzanne is a content marketer, writer, and ...

Need cash now? Use our Personal Loans Tool to lock in great offers in minutes! Calculating the interest rate on a personal loan can be difficult. Most lenders use simple interest rather than compound ...

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 ...