Doing the math and crunching the numbers when it comes to figuring out your loan's interest can be complicated. Here's how to ...

For example, if you take out a five-year loan for $20,000 and the interest rate on the loan is 5 percent, the simple interest formula would be $20,000 x .05 x 5 = $5,000 in interest.

Discover what interest is, including how it's calculated, its impact on loans and savings accounts. We'll also explain how to navigate current interest rates.

The variables are: Interest is the total interest payable over the life of the loan. Fees include all charges or fees associated with the loan (origination fees, processing fees, insurance, etc.).

Compound interest is often used in calculating returns on savings accounts, FDs, RDs, as well as bonds, and mutual funds. Here’s how you can calculate it.