Compound Interest Calculator
Calculate compound interest and growth over time.
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Simple Interest Calculator
Calculate simple interest and the total amount quickly using principal, interest rate and time.
Calculate Simple Interest
Enter the principal amount, annual interest rate and time period to calculate your interest.
ABOUT THIS TOOL
What Is Simple Interest?
Simple interest is calculated using the original principal amount, the interest rate and the length of time.
Unlike compound interest, simple interest does not add previously earned interest to the principal when calculating future interest.
Fashnza's Simple Interest Calculator makes it easy to calculate interest and the final amount quickly.
HOW IT WORKS
How to Calculate Simple Interest
Step 1: Enter the original principal amount.
Step 2: Enter the annual interest rate.
Step 3: Enter the time period.
Step 4: Choose whether the time is measured in years or months.
Step 5: Click Calculate Interest to see the result.
SIMPLE INTEREST FORMULA
Simple Interest Formula
Simple Interest = P × R × T
P represents the principal amount, R represents the annual interest rate as a decimal, and T represents the time in years.
Total Amount = Principal + Simple Interest
For example, if the principal is 10,000, the annual interest rate is 5% and the period is 2 years, the simple interest is 1,000 and the total amount is 11,000.
IMPORTANT
Interest Calculator Note
This calculator uses the simple interest method. Actual financial products may use compound interest, different payment schedules or additional fees.
The results are provided for informational purposes and should not be considered a financial offer or guarantee.
FAQ
Frequently Asked Questions
What is simple interest?
Simple interest is interest calculated only on the original principal amount.
What is the simple interest formula?
The formula is Simple Interest = P × R × T, where P is principal, R is the annual rate as a decimal and T is time in years.
Can I enter time in months?
Yes. Select Months and the calculator will convert the period into years before calculating interest.
Is the Simple Interest Calculator free?
Yes. Fashnza's Simple Interest Calculator is free to use.
Does simple interest compound?
No. Simple interest is calculated using the original principal rather than adding previous interest to the principal.
Does Fashnza store my numbers?
No account is required. Calculations are performed directly in your browser.
Can I use this calculator for loans?
You can use it for simple-interest calculations. However, many real-world loans use amortization or compound-interest methods instead.
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