E. Napoletano is a former registered financial advisor and award-winning author and journalist. With more than 15 years of experience crafting content about all aspects of personal finance, Michael ...

When you borrow money, you’ll also pay interest on top of the amount you borrowed.. Interest is the money the lender gets for loaning you the money. Read Next: 5 Subtly Genius Moves All Wealthy People ...

Need cash now? Use our Personal Loans Tool to lock in great offers in minutes! Calculating the interest rate on a personal loan can be difficult. Most lenders use simple interest rather than compound ...