Step-by-step instructions
- Enter or select Principal.
- Enter or select Annual rate (%).
- Enter or select Years.
- Tap Calculate.
- Review the result shown directly below the calculator.
Simple Interest Calculator
Calculate simple interest and ending balance.
How to use the Simple Interest Calculator
Calculate simple interest and ending balance.
What the inputs mean
- Principal
- Enter the value requested by this field label.
- Annual rate (%)
- Enter the percentage value requested by the calculator.
- Years
- Enter the value requested by this field label.
Formula or calculation method
Simple interest is calculated as principal × interest rate × time.
Example
For example, $1,000 at 5% simple interest for 2 years earns $100 in interest.
How to understand the result
Use the result as an estimate based on the values you entered. For planning decisions, double-check that the input units and assumptions match your real situation.
Tip: Keep all values in compatible units and use values from the same time period when the calculator compares two amounts.