Everything You Need to Know About Interest Rates

  • You have student loans
  • You have a credit card (or 15)
  • You have a mortgage
  • You have a business loan
  • You have a personal loan
  • A personal loan that you have made to a friend, family member, or colleague
  • Savings that you have in a bank, as you are considered to be lending the bank the amount of your deposit
  • Any bonds that you own
  • Investments in money market accounts
  • Funds in your retirement account(s)
  1. Simple interest
  2. Compound interest

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