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With more than 15 years of experience crafting content about all aspects of personal finance, Michael Benninger knows how to identify smart moves for your money. His work has been published by Intuit, ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Your savings account should help you grow your money, but ...

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Simple interest is calculated only on the principal balance of the loan each period.

Elvis Picardo is a regular contributor to Investopedia and has 25+ years of experience as a portfolio manager with diverse capital markets experience. Michael Boyle is an experienced financial ...