Simple Interest Calculator
Calculate simple interest and ending amount from principal, annual rate, and term.
How to use
- Enter principal, annual rate, term, and term unit, then calculate.
Capabilities and scope
The term can be years, months, or days; days use a 365-day year.
How it works
I=P×r×t; interest is applied only to principal.
Example
1,000,000 at 5% for 12 months produces 50,000 interest.
Useful for
- Check a non-compounding interest scenario
Before you use it
- Taxes, fees, and alternative day-count conventions are excluded.
Frequently asked questions
Can I use months or days?
Yes. Months divide by 12 and days by 365 to convert to years.