Simple Interest Calculator
Simple interest is calculated only on the original principal. Enter any three of principal, rate, term and final balance to solve the fourth, see the step-by-step working, and review the flat yearly accumulation schedule.
TheCalculators — Simple Interest Calculator
Printed thecalculators.com
End Balance
$26,000.00
I = P × r × t · total interest $6,000.00
- Principal
- $20,000.00
- Rate
- 3.00%
- Term
- 10.00 years
- Total Interest
- $6,000.00
- End Balance
- $26,000.00
- Interest per Year
- $600.00
Calculation steps
- 1Total Interest = Principal × Rate × Time$20,000.00 × 3.00% × 10.00 = $6,000.00
- 2End Balance = Principal + Interest$20,000.00 + $6,000.00 = $26,000.00
Principal vs interest
- Principal$20,000
- Interest$6,000
Yearly accumulation
Most useful next
Formula
I = P·r·t → End Balance = P + I = P(1 + rt)
Pro tips
- • Simple interest ignores compounding — flat auto loans and some bonds work this way.
- • As a borrower, simple interest is cheaper than compound; as a saver, it earns less.
- • For partial years enter decimals: 30 months = 2.5 years.
FAQ
Related Calculators
More Finance tools you might need.
Compound Interest Calculator
Watch your money grow with compound interest, contributions and full growth schedule.
CalculateInterest Calculator
Compound growth of a balance with ongoing monthly contributions and optional tax.
CalculateInterest Rate Calculator
Reverse-solve the real interest rate from a loan amount, term and monthly payment.
CalculateFuture Value Calculator
FV of a lump sum plus periodic deposits, with a full period-by-period growth schedule.
Calculate