Simple Interest Formula
The calculator uses the standard simple-interest formula I = P × r × t, where P is principal, r is the annual interest rate as a decimal and t is time in years.
What the Calculator Shows
The result includes interest earned, total amount, principal, annual interest rate and time period. Simple interest does not compound previously earned interest.
Important Information
This is a mathematical estimate using the rate and time entered. Actual financial products may include fees, different accrual conventions or additional charges.