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Simple Interest Calculator
Interest = principal x rate x time. No compounding.
Simple interest calculator
Interest = principal x rate x time. No compounding.
Formula: I = P x r x t. For informational purposes only.
How it works
Simple interest does not compound. The formula is I = P x r x t, where P is principal, r is annual rate (as decimal), and t is time in years. Some bonds and loans use simple interest.