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

Interest can be charged when you borrow or earned when you save. When you charge something on a credit card or take out a loan from a financial institution (student loan, auto loan, mortgage, etc.), ...

Interest can be charged when you borrow money or earned when you save. When you charge something on a credit card or take out a loan from a financial institution (student loan, auto loan, mortgage, ...

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 ...

You might have heard people use the term compound interest, but if you can’t answer the question “What is compound interest?” then you’re missing out on how compound interest affects your finances.