Simple interest calculator help


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Calculate The simple interest can be calculated with the following equation:
I = P * R * T
FV = P + I = P + P * R * T

where:
FV = Future value
I = Interest amount
P = Principal amount
R = Interest rate (as a decimal, not in percentage)
T = Time period

Other variations of the simple interest equation are used to calculate:
  • The future value (FV) and interest amount (I)

    FV = P + P * R * T
    I = P * R * T

  • The principal amount (P)

    FV = P + P * R * T
    FV = P * (1 + R * T)
    P = FV / (1 + R * T)

    or

    P = I / (R * T)

  • The interest rate (R)

    FV = P + P * R * T
    P * R * T = FV - P
    R = (FV - P) / (P * T)

    or

    R = I / (P * T)

  • The time period (T)

    FV = P + P * R * T
    P * R * T = FV - P
    T = (FV - P) / (P * R)

    or

    T = I / (P * R)