Source: Flickr user Dafne Cholet. Simple interest refers to interest that's calculated solely based on the principal, and not any interest that has already accrued. The general formula for computing ...

There are two different ways of calculating interest -- simple and compound. Here's how to calculate each, as well as the key differences and similarities between the two. Simple interest is well, ...

Compound interest allows reinvestment of earnings, increasing the principal and potential returns. Long-term compounding dramatically boosts investment growth, e.g., $10,000 grows to $174,494 in 30 ...