What is simple interest

 

Interest refers to the fee charged for money, no matter if it's borrowed, borrowed, or invested. Simple interest is an example of an interest calculation that does NOT account for compounds. Compounding involves the repetitive act of earning interest or getting charged interest, adding that amount to the principal, and then earning additional interest in each period due to an increased account balance.

Continue reading to learn how you can calculate simple interest, and why this calculation might not always accurately reflect your interest rates.

1 Simple Interest is a way to measure interest that doesn't include multiple interest payments and charges. In other words, the interest rate applies only to the principal amount on the loan or investment and will not be affected by any interest accrued.

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