Interest Calculator
Calculate interest and ending balance for loans or savings.
Simple vs. Compound Interest
Understanding how interest works is fundamental to managing your finances, whether you're saving money or taking out a loan.
Simple Interest
Simple interest is calculated only on the principal amount of a loan or deposit.
Formula: I = P × r × t
Compound Interest
Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.
Formula: A = P(1 + r/n)^(nt)