If a lender uses the simple interest method, it’s easy to calculate loan interest. You will need your principal loan amount, interest rate and loan term to calculate the overall interest costs.

The interest rate your lender gives you isn't the true cost of your mortgage. Learn how to calculate your effective interest rate, including any discount points.

When you consider taking out a loan, it’s important to make sure you can afford the payments. Unfortunately, calculating repayment on some loans may involve complex interest calculations. But ...

Auto loan interest is the cost of borrowing money to purchase a car. The lender will look at your credit score, debt-to-income ratio and other factors to determine what interest rate it offers. To ...

The Rule of 78 can be used by lenders to calculate interest that could significantly impact how much you end up paying over the life of a loan. Unlike the standard amortization method, the Rule of ...

For example, interest-only payments on a $50,000 loan with a 4% interest rate and a 10-year repayment term would be $166.67. Interest-only loans can be helpful if you need to keep your payments ...

This article explains how interest-free loans work, where to find them and how to decide whether this financing option is right for you. Our team researched more than two dozen of the country’s ...

Student loan interest is tax deductible up to $2,500, whether you have federal or private loans.So long as it was to pursue higher education, the money could have been for yourself, a spouse or a ...

Learn more about low-interest loans, including where to find the most competitive personal loan rates and who might qualify for them. Compare low-interest personal loan rates in 2025.

If you’re wondering how to lower your student loan interest rate, here’s what you can do. 3 ways to lower your student loan interest rate.

For example, if you take out a five-year loan for $20,000 and the interest rate on the loan is 5 percent, the simple interest formula would be $20,000 x .05 x 5 = $5,000 in interest. Who benefits ...

The Rule of 78 can be used by lenders to calculate interest that could significantly impact how much you end up paying over the life of a loan. Unlike the standard amortization method, the Rule of ...