Simple interest works in your favor when you borrow money, while compound interest is better for you as an investor.

Simple interest is a quick method of calculating the interest charge on a loan.

Different methods in interest calculation can end up with different interest payments. Learn the differences between simple and compound interest.

Simple interest is used when a company borrows money for a loan. Usually this amount will be on a monthly basis. The formula for simple interest is principal times the interest rate times the ...

To calculate per-diem interest, take the interest rate (be sure to express it as a decimal, so 10% becomes 0.10) and divide by 365 to determine the daily interest rate.

While the Reducing Balance method is generally more customer-friendly, the Simple Interest method might work for those who prioritise simplicity and fixed payments.