An installment loan is a loan you repay over time in equal payments, usually on a monthly basis. Each payment includes a part of the loan principal, which is the original amount of money you borrowed ...

Installment loans are designed for steady repayment through equal monthly payments. Each term is set before the agreement ...

Simple interest is paid only on the principal, e.g., a $10,000 investment at 5% yields $500 annually. Compound interest accumulates on both principal and past interest, increasing total returns over ...