The loan amount that you borrow is called the principal, and the interest represents the cost of borrowing charged by the lender. To calculate the principal and interest, multiply the principal amount ...

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 ...

Aaron Broverman is the Managing Editor of Forbes Advisor Canada. He has almost 20 years of experience writing in the personal finance space for outlets such as Bankrate, Bankrate Canada, ...

Amy Fontinelle is a freelance writer, researcher and editor who brings a journalistic approach to personal finance content. Since 2004, she has worked with lenders, real estate agents, consultants, ...

HELOCs, or home equity lines of credit, give homeowners a way to leverage the growing value of their house for anything from renovations to college tuition — and enjoy 10 years of interest-only ...

Companies may lease assets to optimize financial terms and manage balance sheets. Capital lease interest can be computed using the IRR function in a spreadsheet. Adjust IRR formula for payment ...

Making principal-only payments on student loans (either monthly or just occasionally) can help speed up the payback time and lower your overall borrowing costs. But just making extra payments on your ...

Home equity is the portion of a house that the homeowner holds outright — the difference between the house's value and the total amount they owe on the home. As their equity increases, homeowners can ...

Tax Form 1098 tells the IRS how much mortgage interest you paid last year. You may be able to deduct this amount on your Schedule A. Not all mortgage interest is tax deductible. If you have a mortgage ...