Simple Interest Calculator
Calculate simple interest and final amount from a principal, annual percentage rate, and time in years.
Interest
$1,500.00
$11,500.00final amount•
P × r × tformula
Formula
Simple interest is principal × annual rate × years. The percentage rate is divided by 100 before multiplication.
Frequently Asked Questions
Does simple interest compound?+
No. Interest is calculated only on the original principal, not on previously earned interest.
What formula does the calculator use?+
Simple interest equals principal multiplied by the annual rate multiplied by time in years.
Can I use a partial year?+
Yes. Enter a decimal such as 0.5 for six months or 1.5 for eighteen months.
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