A simple interest calculator uses three basic inputs: principal amount, rate of interest, and time. Based on these, it shows the interest earned and the total value at the end of the period.
The bank discount rate is a calculation of the interest investors earn on short-term instruments such as Treasury bills.
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What is interest and how does it work?
Interest can be charged when you borrow money or earned when you save. When you charge something on a credit card or take out a loan from a financial institution (student loan, auto loan, mortgage, ...
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