Open Control Panel on the Desktop and click Default Programs. Then click âAssociate a File Type or Protocol with a Programâ link. Next in the Set Associations screen, scroll down the list until you find Protocols, and under that youâll see MAILTO. Itâs set to Mail â double click it.
Money that is paid in exchange for borrowing or using another person's or organization's money. Interest is calculated as a percentage of the money borrowed. There are two kinds of interest, simple interest and compound interest. In simple interest, the interest is calculated only over the original principal amount.
APR vs. Interest Rate. When consumers borrow money from a financial institution, the interest paid on the loan is the largest â but not the only â component of the cost of borrowing money. There are other hidden costs and fees that the borrower must incur, such as closing costs or points paid on a mortgage.