The formula for simple interest requires your initial principal balance, annual interest rate, and time in years. Say you put a sum of $800 into a savings vehicle with a 5% annual simple interest ...

Americans owe trillions of dollars on loans: car loans, loans to pay the bills, student loans, emergency loans. Loans on loans. But many don't understand how interest is charged on loans -- and ...

If you take out a $300,000 loan from the bank and the loan agreement stipulates that the interest rate on the loan is 4% simple interest, this means that you will have to pay the bank the original ...