Simple Interest Calculator
Calculate Simple Interest
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%
Formula
I = P × R × T | Total = P + I
Frequently Asked Questions
What is simple interest?
Simple interest is calculated only on the original principal: I = P × R × T. Unlike compound interest, it doesn't earn interest on interest. It's used for short-term loans and some bonds.
Simple vs compound interest?
Simple: interest on principal only. Compound: interest on principal + accumulated interest. $1000 at 5% for 3 years: Simple = $1150, Compound (annual) = $1157.63.
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