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 ...

The TI-83 scientific calculator includes a finance-solving application that can do advanced calculations about the time value of money. It can also solve the basic equation for simple interest, which ...

In the real world, simple interest is rarely used. When you deposit money into an interest-bearing account, or take out a line of credit, the interest that accumulates is added to the principal, and ...