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Online Calculators > Financial Calculators > Simple Interest Calculator

Simple Interest Calculator

Simple Interest Calculator calculates simple interest loans, investments or savings. Compound Interest means that there is interest on interest, while simple interest only earn interest on the principal. If you are looking for compound interest calculation, please use our Compound Interest Calculator.

Enter the princial or initial amount, annual interest rate and years, and the interest calculator will instantly calculate the future value and the interest earned.

Interest Calculator

Initial Amount ($):
Annual Interest Rate (%):
Years:

Simple Interest Calculator Results

Interest Earned:
$5,000.00
Future Value:
$15,000.00

Simple Interest Formula

Following is the simple interest formula to calculate loans and other financial statements.

Interest Earned = Principal × Rate × Time

Future Value = Principal + Interest Earned

Following shows an example on how to calculate a simple interest loan using these conditions
Principal: $10,000
Interest Rate: 5%
Years: 10 Years

Interest Earned = Principal × Rate × Time = 10,000 * 0.05 * 10 = $5,000
Future Value = Principal + Interest Earned = 10,000 + 5,000 = $15,000