Finance Calculators
Simple Interest Calculator
Calculate interest that doesn't compound over time.
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Summary
Principal Amount:$1000.00
Total Interest Earned:+$100.00
Total Amount:$1100.00
Simple Interest Formula
A = P × (1 + rt)
Where P = Principal, r = Annual rate, t = Time in years.
These calculators are for general informational use only and are not financial, tax, or legal advice.
Frequently Asked Questions
What is simple interest?
Simple interest is calculated only on the principal amount, or on that portion of the principal amount that remains unpaid. It does not compound.
What is the formula for simple interest?
The formula is Interest = Principal × Rate × Time. To get the total amount, you add the calculated interest back to the principal.
What is the difference between simple and compound interest?
Simple interest is based solely on the original principal. Compound interest is based on the principal plus the interest accumulated in previous periods.