Online Calculators & Tools

Simple interest calculator with Definition

Select currency:      
Principal amount: $  
Annual interest rate:   % per year
Interest amount: $    
Total amount: $    

What is Simple Interest?

The rate at which you borrow or lend money is called the simple interest. If a borrower takes money from a lender, an extra amount of money is paid back to the lender. The borrowed money which is given for a specific period is called the principal. The extra amount which is paid back to the lender for using the money is called the interest.