Financial Planning
Interest Calculator
Calculate simple or compound interest on your principal amount.
Principal Amount
$
Interest Rate
%
Time Period
Calculation Type
Simple Interest = P × r × t
Interest
0%
Total Amount
$0
principal + interest
Principal
$0
Interest Earned
$0
Total Amount
$0
How the formula works
Simple Interest = P × r × t
- P = Principal (initial amount)
- r = Annual interest rate (as decimal)
- t = Time in years
- Simple Interest = P × r × t
- Compound Interest = P × (1 + r)t − P
- Compound interest earns interest on interest