What is simple interest?

Simple interest is calculated on the original principal only. Formula: Interest = (Principal × Rate × Time) / 100.

What does this calculator show?

It shows the interest earned or charged over the period and the final amount (principal plus interest).

No. This calculator uses simple interest only, with no compounding.

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Principal, rate and time inputs

Principal amount:

Interest rate, % per year:

Savings period: Years