Simple Interest Calculator
Enter a principal amount, annual interest rate and term in years to calculate simple interest.
%
Formula
Interest = (Principal × Rate × Years) ÷ 100
Example
A principal of 1,000 at 5% for 3 years earns 150 in interest, for a total of 1,150.
Frequently Asked Questions
- How is simple interest different from compound interest?
- Simple interest is calculated only on the original principal for the entire term, while compound interest is calculated on the principal plus any interest already earned.
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