Do you know what a compound interest calculator is? Well, it is not a device that measures how well you would fit into the lifestyle of Big Love. A compound interest calculator is a device that allows you to easily figure out how much interest you will earn from a plan that compounds interest, or, of course, how much interest you would be paying on a loan that compounds the interest you pay.
There are two basic types of interest: simple and compound. If you are getting an automobile loan, for example, you would probably be better off getting a loan that offers simple interest. Simple interest iswellsimpler. And normally will save you money over the length of the loan.
If you are lending money out, you would be better served to have the interest compounded. Compound interest iswellcompounded. In turn you will have a much better return on the money you lend out.
Simple interest is easier to figure mathematically, and it works like this. Of course, the interest rate is the amount of money it costs to borrow money. If your interest rate is a simple rate, the amount you pay back is calculated only on the original principle.
Compound interest is...
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