Interest Calculator
About This Calculator
This Interest Calculator is a tool designed to help you calculate the interest accrued on a principal amount over a specified period of time at a given annual interest rate. Interest is calculated using the formula:
Interest = (Principal * Rate * Time) / 100
The total amount after interest is calculated by adding the interest to the original principal amount. This calculator is useful for quickly determining the amount you will pay or earn over time for loans or investments with simple interest.
Simply enter the initial amount (principal), the interest rate per year, and the time period in years. Click "Calculate" to see the interest and the total amount including interest.