Understanding the "Rule of 72" can help consumers see how quickly credit card debt can grow due to compound interest. The Rule of 72 is a simple formula to estimate how long it takes for debt to ...

Learn the basics of Simple and Compound Interest with easy formulas, examples, and clear differences to help you score better in exams and understand financial growth.

Interest can be charged when you borrow money or earned when you save. When you charge something on a credit card or take out a loan from a financial institution (student loan, auto loan, mortgage, ...

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, ...