Month: March 2017

Simple Interest vs. Compound Interest: An Overview Interest is the cost of borrowing money, where the borrower pays a fee to the lender for the loan. Interest, usually expressed as a percentage, can be simple or compound. Simple interest is based on the principal amount of a loan or deposit. On the other hand, compound […]

Simple Interest vs. Compound Interest: An Overview When analyzing the terms of a loan, it is important to consider more than the interest rate. Two loans can have the same principal amounts, interest rates, and repayment terms, but significant differences in the amount of interest you pay, especially if one of the loans uses simple […]