FINANCIAL CALCULATOR
Simple Interest Calculator
Calculate simple interest based on the principal amount, annual interest rate, and time period. See the interest, total amount, and formula used in the calculation.
Enter your values below. The results and calculation steps update automatically.
The initial amount of money.
How this was calculated
I = P × r × t
P = Principal · r = Annual interest rate · t = Time in years
Enter values to see the calculation.
Understanding simple interest
Simple interest is calculated only on the original principal. Unlike compound interest, previously earned interest does not earn additional interest.
Want to learn more about how simple interest works?
Learn about simple interest