You’ve likely seen the term APR when shopping for a car loan or credit card. Short for annual percentage rate, APR gives you an idea of how much it’s going to cost you to borrow money. Knowing how to ...

You don’t have to be a math whiz to figure out how much you'll earn with a CD. David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one ...

Interest is one of the ways lenders make their money, and it’s what makes it worth it for them to give out loans. If you’re borrowing money, interest is the cost the bank charges you for the service.

Simple interest is paid only on the principal, e.g., a $10,000 investment at 5% yields $500 annually. Compound interest accumulates on both principal and past interest, increasing total returns over ...

Forbes contributors publish independent expert analyses and insights. True Tamplin is on a mission to bring financial literacy into schools. The Annual Percentage Rate is a fundamental concept in ...

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A friend of mine almost didn't do a balance transfer because of the $300 fee. He was nervous about paying that much up front -- totally fair. But once he ran the numbers and saw he'd save over $1,400 ...