Simple Interest Calculator
Calculate simple interest on loans or investments (interest does not compound)
$
Initial amount
%
years
Range: 1 - 50
Final Balance
$12,500.00
Total Interest
$2,500.00
Interest Per Year
$500.00
Fixed annual interest
Simple Interest Formula
I = P x r x t = $10,000.00 x 5% x 5 = $2,500.00
Where P = Principal, r = Annual Rate, t = Time in years
Year-by-Year Breakdown
| Year | Interest Earned | Total Interest | Balance |
|---|---|---|---|
| 1 | $500.00 | $500.00 | $10,500.00 |
| 2 | $500.00 | $1,000.00 | $11,000.00 |
| 3 | $500.00 | $1,500.00 | $11,500.00 |
| 4 | $500.00 | $2,000.00 | $12,000.00 |
| 5 | $500.00 | $2,500.00 | $12,500.00 |
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