# Simple & Compound Interest Calculator

Our calculator allows the accurate calculation of simple or compound interest accumulated over a period of time.

To use our calculator, simply:

Select the currency from the drop-down list (this step is optional).

Choose what you would like to calculate:

• 1. The simple interest, or
• 2. Compound interest.

Enter the principal amount, interest rate, time period, and click 'Calculate' to retrieve the interest.

Interest Calculator

## Simple Interest

Simple interest is calculated only on the principal amount of an investment.

The following formula can be used to find out the simple interest:

• I = P×r×t
• Where,
• I = amount of interest, P = principal amount, r = annual interest rate, t = time in years.

## Compound Interest

Compound Interest is calculated on the principal amount and also on the interest of previous periods.

The following formula can be used to find out the compound interest:

• A = P×(1 + r/n)nt
• Where,
• A = final amount including interest, P = principal amount, r = annual interest rate (as decimal), n = number of compounds per year, t = number of years.