Knowing your loan's interest rate matters, as does learning how that rate is calculated. Interest is either simple or compound. If you have a simple interest loan, interest is based only on the ...

A simple interest loan doesn’t charge you additional interest on your accrued interest. In other words, the only interest you pay is on the outstanding principal balance of your loan. Auto loans and ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor ...

“I am perplexed at what appears to be a nomenclature problem that the mortgage industry has created with its definition of ‘simple-interest mortgage.’ Aren’t most monthly payment mortgages simple ...

We’ve all had them: questions from clients with answers that seem so obvious to us that they can be difficult to explain. As financial advisors, it’s easy to get frustrated when a client asks ...

If you’re an investor looking to understand the benefits of compound interest, consider the example set by the legendary Warren Buffett. The 93-year-old’s net worth has grown to $137 billion over the ...

A recent national survey revealed a surprising gap in Americans' understanding of basic financial concepts: only 42% correctly answered a fundamental question about interest rates. This statistic ...

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. When analyzing the terms of a loan, it is important to consider more than the interest rate ...