simple interest calculator
calculate simple interest on a deposit or loan from the principal, annual rate and time in years, months or days.
runs on your device · free · no sign-up
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frequently asked questions
what is the simple interest formula?
interest = P × r × t, where P is the principal, r the annual rate as a decimal and t the time in years.
how is simple interest different from compound interest?
simple interest is always charged on the original principal only. compound interest is charged on principal plus accumulated interest.
can i use months or days?
yes. months are divided by 12 and days by 365 to convert to years.