There are two main types of interest, compound interest and simple interest. Compound interest factors in interest earned in the total interest calculation. Therefore, compound interest totals account ...

Compound interest is commonly described as "interest earned on interest." Compound interest can work to your advantage as your investments grow over time, but against you if you're paying off debt, ...

Simple interest calculates earnings or payments based solely on the initial principal, while compound interest grows by calculating interest on both the principal and the accumulated interest over ...