What does this advanced simple interest calculator do?

It lets you solve for any one of four variables — principal, rate, time, or interest — where interest is calculated only on the original amount without compounding.

When is simple interest used instead of compound interest?

Simple interest is used in certain fixed-term loans, bonds, and other products where the interest is calculated only on the original balance, not on accumulated interest.

Is this calculator free to use?

Yes. All Optimly calculators are completely free to use without registration.

OPTIMLY Calculators | Simple Interest Advanced Calculator

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Calculator options

Solve for:

Inputs

Principal amount:

Interest rate, % per year:

Savings period: Years

Interest amount: