Prt
Simple Interest Calculator
Interest charged on the original amount only: I = P × r × t.
Result…
How it's calculated
I = P × r × t Total = P × (1 + r × t)
Simple interest never compounds: each year earns the same amount on the original principal. It is used for some short-term loans, bonds' coupon payments and car loans in some markets. For interest on interest, use the compound interest calculator.
Your numbers, step by step
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