Simple Interest Calculator
Calculate interest earned and the total amount with simple (non-compounding) interest.
Total Amount
$0
| Interest earned | $0 |
Advertisement
Simple interest formula
Simple interest is calculated only on the original principal: I = P · r · t, where P is the principal, r the annual rate (as a decimal) and t the time in years. The total amount is principal plus interest.
Simple vs compound interest
Unlike compound interest, simple interest does not earn interest on previously earned interest. It is common for short-term loans and some bonds. For savings that compound, use our compound interest calculator instead.