Simple interest calculator
Simple interest never compounds. It still appears in short-term notes, some bonds and most homework problems.
%
years
Interest
750.00
- Total value
- 5750.00
- If it compounded annually instead
- 5788.13
- What compounding would add
- 38.13
Show the working
- Principal = 5000
- Annual rate = 5
- Time = 3
- Interest = 5000 * 5 / 100 * 3 = 750
- Total value = 5000 + 750 = 5750
- If it compounded annually instead = 5000 * (1 + 5/100)^3 = 5788.13
- What compounding would add = 5788.13 - 5750 = 38.125
Values are shown to six significant figures here; the arithmetic itself runs on exact fractions and is only rounded where a number is printed.
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The formula
- I = P r t
- A = P (1 + r t)
This is arithmetic, not financial advice. Real products carry fees, tax treatment and terms that no formula captures.