# Simple interest calculator

Simple interest calculator.

 Select currency: Dollar (\$) Pound (£) Euro (€) Krona (kr) Leu (L) Lira (t) Peso (P) Ringgit (RM) Rupee (R) Rupee (Rs) Shekel (₪) Zloty (zl) - other - Principal amount: \$ Annual interest rate: % per year Period: Days Weeks Months Quarters Years Interest amount: \$ Total amount: \$

# How to calculate simple interest formula

Simple interest calculation formula.

So The simple interest amount is equal to the principal amount times the annual interest rate divided by the number of periods per year m, times the number of periods n:

simple interest amount =  principal amount × (rate /  m) ×  n

#### Example 1

Calculate the simple interest amount of principal amount of \$4,000, annual interest rate of 6% and time of 18 months.

Solution:

principal amount = \$4,000

rate = 6%

m = 12 months/year

n = 18 months

simple interest amount = \$4,000 × (6% / 12months/year) × 18months

= \$4,000 × (0.06 / 12months/year) × 18months

= \$360

#### Example 2

Calculate the simple interest amount of principal amount of \$8,000, annual interest rate of 6% and time of 18 months.

Solution:

principal amount = \$8,000

rate = 6%

m = 12 months/year

n = 18 months

simple interest amount = \$8,000 × (6% / 12months/year) × 18months

= \$8,000 × (0.06 / 12months/year) × 18months

= \$720

#### Example 3

Calculate the simple interest amount of principal amount of \$9,000, annual interest rate of 5% and time of 18 months.

Solution:

principal amount = \$9,000

rate = 5%

m = 12 months/year

n = 18 months

simple interest amount = \$9,000 × (5% / 12months/year) × 18months

= \$9,000 × (0.05 / 12months/year) × 18months

= \$675

Simple interest calculation ►

## Features of Simple interest Calculator

Our Simple interest Calculator allows the users to Calculate Simple interest . Some of the prominent features of this utility are explained below.

#### No Registration

You don’t need to go through any registration process to use the Simple interest Calculator. Using this utility, users to Calculate Simple interest as many times as you want for free.

#### Fast conversion

This Simple interest Calculator offers users the fastest Calculate. Once the user enters the  Simple interest values ​​in the input field and clicks the Calculate button, the utility will start the conversion process and return the results immediately.

#### Saves Time and Effort

The manual procedure of Calculator Simple interest isn’t an easy task. You must spend a lot of time and effort to complete this task. The Simple interest Calculator allows you to complete the same task immediately. You will not be asked to follow manual procedures, as its automated algorithms will do the work for you.

##### Accuracy

Despite investing time and effort in manual Calculation, you might not be able to get your hands on accurate results. Not everyone is good at solving math problems, even if you think you're a pro, there's still a good chance you'll get in accurate results. This situation can be smartly handled with the help of a Simple interest Calculator. You will be provided with 100% accurate results by this online tool.

##### Compatibility

The online Simple interest converter perfectly works on all operating systems. Whether you have a Mac, iOS, Android, Windows, or Linux device, you can easily use this online Tool without facing any hassle.

###### 100% Free

You don't need to go through any registration process to use this Simple interest Calculator. You can use this utility for free and do unlimited Simple interest Calculate without any limitations.