This calculator requires the use of Javascript enabled and capable browsers. This calculator is designed to calculate the simple interest amount for a financial contract. The interest rate (R), the principal (P) and the time (T) are all variables; in the case of time, the time quantity is the number of time units, such as years, months or days. Fill in your values and click on Calculate. If you wish to enter a fraction of a year, you must have a leading number. For instance, 1.5 years is valid and 0.5 years is also. However, .5 years is not. Our defaults are for a $10,000.00 load for 5 years at a 5 percent rate. The total simple interest is $2500.
The formula for this calculation is (Interest) = (Principal * Rate * Time) / 100. Click HERE to see how to calculate the other factors!
