Interest is quite possibly the most complex bit of math that the average person has to use everyday. Like the Force, it can be used for good, for evil, and it binds the galaxy together. When interest ...

Simple interest is the interest applied only to the original amount of money deposited or borrowed. Calculating simple interest requires knowing your principal amount, annual interest rate, and time ...

Simple interest is paid only on the principal, e.g., a $10,000 investment at 5% yields $500 annually. Compound interest accumulates on both principal and past interest, increasing total returns over ...

Math is awesome. Wait!! Don’t click out of here to go read an article about Beyoncé and her twins! Stay with me so I can tell you why math is awesome. Because if you have a basic understanding of math ...

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 period.