How to Calculate Simple and Compound Interest
For the same principal, rate, and term, simple interest is always lower than compound interest due to the fact that interest is calculated on interest when using the compounding interest method. The...
View ArticleRule of 78 Method
The rule of 78 method is used to split loan repayments between interest and principal for each period of the loan term. The method results in a higher interest expense and lower principal repayments in...
View ArticleRule of 78 Calculator
This free rule of 78 calculator with amortization schedule can be used for any loan with a maximum term of 600 periods. The calculator will work out the interest expense for any period, and produce a...
View ArticleHow to Calculate Compound Interest
Compound interest accumulated between two periods can be found by taking the difference between the future values at the start and end of the two periods. The post How to Calculate Compound Interest...
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