Calculating the interest rate on a personal loan can be difficult. Most lenders use simple interest rather than compound interest, though, which makes the job a little easier. To calculate how much ...

The simple interest formula is Interest = P * R * T. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how ...

Principal is the amount you borrowed, and interest is the amount you pay to the lender as a charge for borrowing. To calculate interest, multiply the principal amount by the interest rate, then ...