This simple interest calculator helps you calculate the total interest and ending balance.
Enter the initial amount, interest rate, and period. You can choose "years," "months," "weeks," "days," or "quarters."
What is simple interest?
Simple interest is a method of calculating interest as opposed to compound interest. In interest calculation, compound interest is a method in which interest is carried over to the principal at regular intervals and calculated as a new principal, while simple interest is a method in which interest is calculated simply by multiplying a period by an interest rate. In other words, for simple interest, interest = principal x interest rate x period.