Simple interest is used when a company borrows money for a loan. Usually this amount will be on a monthly basis. The formula for simple interest is principal times the interest rate times the period.

The Rule of 72 has likely made its way to many table conversations about money. It’s a simple, almost magical calculation that tells you how long it takes to double your investment. And you don’t need ...

Calculating Simple Interest is an excellent method to judge your savings in advance. However, calculating it for various interests and principal sums could be complex. This is where Excel comes to ...