Interest Calculator
Calculate both simple and compound interest with our easy-to-use calculator. Compare different interest rates, time periods, and compounding frequencies to make informed financial decisions.
Simple Interest Calculator
Calculate the interest earned on a principal amount at a fixed rate over a period of time.
Understanding Interest Calculations
Simple Interest
Simple interest is calculated only on the initial principal. The formula is:
SI = P × R × T / 100
Where:
SI = Simple Interest
P = Principal
R = Rate of Interest (% per annum)
T = Time Period (in years)
Compound Interest
Compound interest is calculated on the principal and the accumulated interest. The formula is:
A = P(1 + r/n)^(n*t)
Where:
A = Final Amount
P = Principal
r = Rate of Interest (decimal)
n = Compounding Frequency per Year
t = Time Period (in years)
CI = A - P