Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor ...

On the surface, an interest rate is just a number. How that number applies to debt or equity opens up a world of possibilities. The first consideration is always whether it’s simple interest vs.

Principal is the amount you borrowed, and interest is the amount you pay to the lender as a charge for borrowing. To calculate interest, multiply the principal amount by the interest rate, then ...

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Opening a high-yield savings account is the first step in the process of working through a solid savings strategy. While your income, spending habits and managing your finances will ultimately drive ...

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 ...

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 ...

Interest rates shape everything from your mortgage payment to the return on your savings account. Whether you're borrowing or saving, the rate determines how much money changes hands over time. Rates ...