Simple interest is calculated using the following formula: To find simple interest, multiply the original borrowed (principal amount) by the interest rate (annual interest rate), written as a ...

This figure stays the same throughout the loan term. The simple interest formula The formula for simple interest is as follows: To use a simple interest calculator or calculate simple interest by ...

The formula for calculating savings account interest uses the initial deposit, the annual interest rate and the years of growth. Compound interest earns the account holder more than simple ...