Money
Simple Interest Calculator
Interest and total amount using the simple interest formula.
Result
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Fill in the form to see your answer here.
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About this tool
Simple interest grows the same amount every period, unlike compound interest. Enter the principal, annual rate and time to see the interest earned and the final amount.
Frequently asked questions
What is the simple interest formula?
Simple Interest = (Principal × Rate × Time) ÷ 100, where rate is the annual percentage and time is in years.
How is simple interest different from compound interest?
Simple interest is calculated only on the original principal every period. Compound interest is calculated on the principal plus any interest already added, so it grows faster over time.
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