Simple interest works in your favor when you borrow money, while compound interest is better for you as an investor.

Simple interest is used when a company borrows money for a loan. Usually this amount will be on a monthly basis. The formula for simple interest is principal times the interest rate times the ...

Stay with me so I can tell you why math is awesome. Because if you have a basic understanding of math and, more importantly, of compound interest, it might change your life. Are you ready?

With a simple interest loan, interest is based only on principal, and you can easily calculate it to find out the true cost of borrowing.

It is the same as calculating simple interest in original mathematics. How do you calculate interest rate in Excel? You can use PMT to calculate the interest rate in Excel.