A simple interest loan doesn’t charge you additional interest on your accrued interest. In other words, the only interest you pay is on the outstanding principal balance of your loan. Auto loans and ...

A simple interest loan calculates the interest based only on the principal you owe. It stands in contrast to a compound interest loan, which calculates interest based on principal and any outstanding ...

We might earn a commission if you make a purchase through one of the links. McClatchy's Commerce Content team, which is independent from our newsroom, oversees this content. Loans can be a great way ...