Simple & Compound Interest Calculator
Calculate interest earned on a principal amount, simple or compounded.
Interest Earned
$4,176.25
Final Amount
$14,176.25
Overview
Calculate simple interest or compound interest on a principal amount, with a choice of compounding frequency.
Formulas
Simple Interest:
Interest = Principal × Rate × Time / 100
Compound Interest:
Amount = Principal × (1 + Rate / (100 × n))^(n × Time)
Interest = Amount − Principal
where n is the number of times interest compounds per year.
How to use this calculator
- Choose Simple or Compound interest.
- Enter the principal, annual rate, and time period.
- For compound interest, pick a compounding frequency (annually, quarterly, monthly, or daily).
- See the interest earned and final amount instantly.
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