TopToolAISimple Interest Calculator
Simple interest grows by the same fixed amount every year, unlike compound interest, which grows on top of itself. This works out the interest and total amount for a given principal, rate and time.
How to use Simple Interest Calculator
Step-by-step guide to the boxes below. Open it only if you need help.
How to use Simple Interest Calculator
Step-by-step guide to the boxes below. Open it only if you need help.
-
1
Principal Text
The starting amount you borrow or invest. Interest is charged only on this amount.
Example: 10000
-
2
Annual rate % Text
Interest rate per year in percent, e.g. 5 for 5%.
Example: 5
-
3
Time (years) Text
How long the money is borrowed or invested, in years. Decimals work, e.g. 1.5 for 18 months.
Example: 3
-
4
Press “Calculate”
Click the button under the boxes. If something is missing or not valid, a short message tells you which box to fix.
-
5
Read your result
Your answer appears under the button, with a short note in plain words where it helps. Change any box and press again to compare different numbers.
Simple Interest Calculator FAQs
User Reviews
No reviews yet — be the first to try this tool and leave one.
More Free Tools
Handy the next time you're here
Leave a review