Simple Interest Calculator

The Simple Interest Calculator calculates the interest and end balance based on the simple interest formula. Click the tabs to calculate the different parameters of the simple interest formula. In real life, most interest calculations involve compound Interest. To calculate compound interest, use the Interest Calculator.

End balance
Principal
Interest rate
Term
 

Results

End Balance:  $26,000.00
Total Interest:  $6,000.00
Calculation steps:
Total Interest =$20000 × 3% × 10
=$6,000.00
End Balance =$20000 + $6,000.00
=$26,000.00

Balance Accumulation Graph
Term in years$0$5K$10K$15K$20K$25K0 yr1 yr2 yr3 yr4 yr5 yr6 yr7 yr8 yr9 yr10 yrPrincipalInterest
Breakdown
77%23%PrincipalInterest

Schedule

YearInterestBalance
1$600.00$20,600.00
2$600.00$21,200.00
3$600.00$21,800.00
4$600.00$22,400.00
5$600.00$23,000.00
6$600.00$23,600.00
7$600.00$24,200.00
8$600.00$24,800.00
9$600.00$25,400.00
10$600.00$26,000.00

RelatedInterest Calculator | Compound Interest Calculator

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