Formula
Simple interest uses I = P × r × t, where P is principal, r is the annual rate as a decimal, and t is time in years.
Finance
Simple Interest Calculator
Calculate simple interest, total amount and effective time using principal, annual rate and duration.
Simple interest calculator
Enter the principal, annual interest rate and time period.
Simple interest
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I = P × r × t
Principal—
Total amount—
Effective time—
Annual rate—
What it does not include
This calculator does not compound interest. For loans with recurring payments, use the amortization schedule calculator instead.