Simple Interest Calculator

Compute simple interest using I = Prt. Free simple interest calculator for short-term loans, bonds, and basic finance problems.

loan

Result

1,500.00

Breakdown

Total Amount
11,500.00

Frequently Asked Questions

What is the simple interest formula?▼
Simple interest is I = Prt: principal times annual rate times time in years. Unlike compound interest, no interest is earned on prior interest.
When is simple interest used?▼
Simple interest is common for short-term loans, car loans, and some bonds. Most savings accounts and mortgages use compound or amortized interest.

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