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- Simple Interest Calculator

**Simple interest is calculated only on the initial amount (principal) that you invested.**

**Example:** Suppose you give \$100 to a bank which pays you 5%
simple interest at the end of every year. After one year you will have \$105, and
after two years you will have \$110. This means that you will not earn an interest on your interest.
Your interest payments will be $5 per year no matter how many years the initial sum of money
stays in a bank account.

This calculator can be used to solve various types of simple interest problems. **The calculator will print
easy to understand step-by-step explanation**. Click here to see a list
of example problems that can be solved by using this calculator.

This is a list of the example problems which can be solved by using this calculator.

**Example 1:** You deposit **\$1000** into a bank account paying **7%**
simple interest per year. You left the money in for **3 years**.
Find the interest earned and the amount at the end of those 3 years?

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**Example 2:** You deposit **\$12000** into a bank account paying **1.5%**
simple interest per month. You left the money in for **210 days**. Find the interest earned and the amount.

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**Example 3:** You deposit some money into a bank account paying **4%** simple interest **per year**.
You received **$72** in interest after **3 years**. How much the deposit (principal) was?

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**Example 4:** You deposit some money into a bank account paying **2%** simple interest **per 6 months**.
You received **$15** in interest after **9 month**. How much the principal was?

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**Example 5:** You deposit **$1000** into a bank account and received **$50** simple interest after **3 months**.
What had been the interest rate?

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**Example 6:** You deposit **$350** into a bank account paying **1.2%** simple interest **per month**.
If you receiver **$9** as interest, find the time for which the money stayed at the bank.

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