Simple Interest Calculator

Calculate the simple interest accrued on loans or investments over time. Perfect for quick financial estimates without compounding.

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Commonly used for short-term loans, pawnshop transactions, and certain types of certificate of deposit (CD) accounts where interest doesn't compound.

Interest I = P × r × t , where P is Principal, r is annual rate, and t is time in years.

Fun Fact: Simple interest is easy to calculate but less powerful than compound interest, where your interest also earns interest!

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