The loan amount that you borrow is called the principal, and the interest represents the cost of borrowing charged by the lender. To calculate the principal and interest, multiply the principal amount ...

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 ...

Businesses rarely loan or borrow money without receiving or paying interest on the loan amount. Although loans may use simple interest, most loans compound the interest periodically or continuously on ...