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 ...

Lenders calculate how much interest you’ll pay with each payment in two main ways: simple or on an amortization schedule. Short-term loans often have simple interest. Larger loans, like mortgages, ...

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 ...