July 19, 2015
This is another one of the topics that you will likely see more of in your first year of business school than on the GMAT, but getting down a few pieces of terminology and understanding how they are used will make your stress level come down if you see one on the exam and during your first year finance class.
Principle: The amount of an investment
Simple Interest: Interest that is paid on the principle alone
You do not have to memorize the formula above, but know that the interest am...