Calculate simple interest on loans and investments with MaiCalcs. Get detailed breakdowns of interest earned or paid over time.
• Personal loans from a bank
• Car loans (often simple interest)
• Basic savings accounts or bonds
• Mortgages (interest calculation part)
I = P × R × T ÷ 100
• I = Interest earned/paid
• P = Principal amount
• R = Annual interest rate (%)
• T = Time period (years)
Enter values to calculate simple interest