Understanding the Power of Compound Interest

What is compound interest? Compound interest is the type of interest that is calculated on both the principal and the accrued interest on the principal. Unlike the simple interest whereby interest is calculated on the principal alone, while calculating interest using compound interest, you will need to first add the accrued interest with the principal before you apply the interest rate on the total amount (that is, principal and interest). Personally, I like surfing internet. I will like to share what I stumbled upon this weekend. If you have been one of the people who keep wondering why the Americans Continue ReadingUnderstanding the Power of Compound Interest

Student Loan Rehabilitation and Consolidation

How do I apply for student loan rehabilitation? If your student loan is already in default, you may be thinking on how to quickly get it out of the default status so that you can continue with the repayment.  There are actually ways you can achieve this. But in this article, we shall concentrate on two options; student loan rehabilitation and consolidation. But for the purpose of information, you can get out of default by paying off the outstanding student loan. This option may not fit into the situation of many people. The reason is that, if they have the Continue ReadingStudent Loan Rehabilitation and Consolidation

Differences Between Secured Loans and Unsecured Loans

Secured Loans Vs Unsecured Loans When you want to borrow, you have the option of applying for either secured loans or unsecured loans. However, you don’t just choose your option arbitrarily. You need to take some factors into consideration. Some of the factors you may be able to control by yourself, while some factors may subject to situation that applies to you in particular. Before you can decide whether to borrow secured loan or unsecured loans, you should understand what they mean and the differences between the two types of loans Secured Loans Definition Secured loans are the types of Continue ReadingDifferences Between Secured Loans and Unsecured Loans