Whether you are paying interest or being paid interest, it's important to fully understand how that interest is calculated. There are two basic types of interest: simple and compound. How each type is ...

Financial literacy is often overlooked when preparing young adults like college graduates for the real world, yet it is one of the most valuable tools you, as a parent, can equip them with. As they ...

In the real world, simple interest is rarely used. When you deposit money into an interest-bearing account, or take out a line of credit, the interest that accumulates is added to the principal, and ...