Source: Flickr user Dafne Cholet. Simple interest refers to interest that's calculated solely based on the principal, and not any interest that has already accrued. The general formula for computing ...

If money is left in a bank or building society for more than one year, then the amount of interest earned causes the balance to increase. Remember - this is simple interest which is different from ...

Simple interest refers to interest that's calculated solely based on the principal, and not any interest that has already accrued. The general formula for computing simple interest is: For example, if ...