Simple Interest Calculator
What is a Simple Interest Calculator?
A simple interest calculator helps you determine the interest earned on a principal amount over a period of time, without the effect of compounding.
How it Works
The calculator uses the simple interest formula (I = P * R * T) to compute the interest. You need to provide the principal amount, the annual interest rate, and the number of years.
Calculate Simple Interest
Total Interest:
$0.00
Frequently Asked Questions
What is Simple Interest?
Simple interest is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.