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 ...

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 ...

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 ...