MANAGEMENT

Detailed explanation-1: -What are the Different Types of Interest? The three types of interest include simple (regular) interest, accrued interest, and compounding interest.

Detailed explanation-2: -Two main types of interest can be applied to loans-simple and compound. Simple interest is a set rate on the principal originally lent to the borrower that the borrower has to pay for the ability to use the money. Compound interest is interest on both the principal and the compounding interest paid on that loan.

Detailed explanation-3: -Interest rates come in two basic types: fixed and adjustable. This choice affects: Whether your interest rate can change. Whether your monthly principal and interest payment can change and its amount.