Finance
Simple interest charges only on the original principal for each period. Short-term notes and some educational problems use this linear method.
Simple interest charges only on the original principal for each period. Short-term notes and some educational problems use this linear method.
Most savings accounts and mortgages use compound or amortized methods instead.
CalculatorCamp output is illustrative, not financial advice.
Enter principal, annual rate, and time in years (or compatible units). Calculate interest earned and total amount.
This simple interest calculator applies the standard relationship below. Intermediate values are kept at full precision; only the displayed result is rounded.
I = P x R x T; Amount = P + I (P principal, R rate per year, T time in years)
Borrow 5,000 at 6% simple interest for 3 years: interest = 5,000 × 0.06 × 3 = 900, so the amount repaid is 5,900. Simple interest grows in a straight line; compare with the Compound Interest calculator to see the difference over long terms.
Interest $100; total $1100.
No.
Some auto loans accrue daily—may differ from basic annual T.
Yes.
The factors and formulas used by this tool follow these references:
Finance results are estimates based on the figures you enter and standard formulas. They are not tax, investment, or lending advice; actual bank terms, fees, and tax rules may differ.
Last reviewed: September 2026. Found an error? Tell us and we will correct it.
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