E. Napoletano is a former registered financial advisor and award-winning author and journalist. With more than 15 years of experience crafting content about all aspects of personal finance, Michael ...

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, ...

Compound interest is a form of interest calculated using the principal amount of a deposit or loan plus previously accrued interest. Unlike simple interest, which doesn’t apply to previously accrued ...