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- Simple Interest Calculator
Simple interest calculator
Simple interest is calculated solely on the amount initially invested. This calculator can help you deal with many different kinds of simple interest problems. The calculator prints an easy-to-follow, step-by-step explanation.
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Examples:
example 1:ex 1:
You put $1,000 into a bank account that pays 7% simple interest each year.
You left the money in there for 3 years. Determine the interest earned and the total amount at the end of three years.
example 2:ex 2:
You deposit $12000 into a bank account with a monthly interest rate of 1.5%. You had the money in there for $210 days. Determine the amount of interest earned.
example 3:ex 3:
You put money into a bank account that pays 4% simple interest each year.
After three years, you collected $72 in interest. How much was the deposit (principal)?
example 4:ex 4:
You put money into a bank account that pays 2% simple interest every six months.
After 9 months, you received $15 in interest. How much was the principal?
example 5:ex 5:
You deposited $1000 into a bank account and received $50 in simple interest after three months.
What was the interest rate?
example 6:ex 6:
You deposit $350 into a bank account with a monthly interest rate of 1.2%.
Determine the length of time the money was in the bank if you received $9 in interest.
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