Taylor Medine is a staff writer at Forbes Advisor who demystifies complex money topics to help everyday people make more informed financial decisions. Over her nearly a decade of experience, Taylor's ...

When you plan a personal loan, understanding how interest works is just as important as knowing the loan amount. Many people ...

Knowing your loan's interest rate matters, as does learning how that rate is calculated. Interest is either simple or compound. Are Personal Loans a Good or Bad Idea? Taking out a personal loan can ...

Discover how simple interest benefits borrowers in car loans and consumer purchases, and learn why it might not be ideal for ...

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Forbes contributors publish independent expert analyses and insights. True Tamplin is on a mission to bring financial literacy into schools. The Annual Percentage Rate is a fundamental concept in ...

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 ...

A simple interest loan calculates the interest based only on the principal you owe. It stands in contrast to a compound interest loan, which calculates interest based on principal and any outstanding ...