Simple Interest Calculator
Simple interest is charged only on the original principal. Some short-term loans and introductory explanations use it. Most modern bank accounts use compound interest instead.
Interest900.00
Amount5,900.00
Formula
I = P × r × t. Amount = P + I.
How to use this calculator
- Enter principal, annual rate, and time in years.
- Read interest and total amount.
Examples
$5,000 at 6% for 3 years
Interest = $900. Amount = $5,900.
FAQ
Is time always in years?+
Yes here. For months, enter years as months ÷ 12.
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