Simple Interest Calculator
Calculate total interest earned on a principal amount over a set period of time.
What is Simple Interest?
Simple interest is a quick and easy method of calculating the interest charge on a loan or the growth of an investment. It is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
The key difference between simple and compound interest is that simple interest is calculated only on the principal amount. It does not factor in "interest on interest." This makes it more common for short-term personal loans or specific consumer credit products.
Total Future Value
$0.00
Original Principal $0.00
Total Interest Earned $0.00
Yearly Interest Breakdown
| Year | Interest Added | Accumulated Interest | Total Balance |
|---|