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 ...

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 ...

When borrowing money, simple interest represents the percentage of your loan balance that you owe in fees to the lender. This ...