Simple Interest Calculator

This simple interest calculator calculates an Total amount (A) that includes Principal (P) plus interest (I).

Total Payment (EMI)

$11,230.00

Total Interest (I): $1,230.00

Simple Interest Equation (Principal + Interest)

A = P(1 + rt)
Where:

A = Total Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
r = Rate of Interest per year in decimal; r = R/100
R = Rate of Interest per year as a percent; R = r * 100
T = Time Period involved in months or years

From the base formula, A = P(1 + rt) derived from A = P + I and I = Prt so A = P + I = P + Prt = P(1 + rt)