10,000 at 5% a year for 3 years
- Details
- Principal $10,000.00; rate 5% a year; time 3 years
- Result
- Interest $1,500.00; total amount $11,500.00
Enter the details (current step)
%
Please enter the rate stated in your agreement or product terms. This tool does not suggest a rate.
years
Result
Please complete the details. The result will appear here.
How it is calculated
- Simple interest = principal × annual rate × time in years (SI = P × R × T ÷ 100, where R is the rate in per cent).
- For time in months, years = months ÷ 12. For time in days, years = days ÷ 365.
- Total amount = principal + simple interest.
- Interest if compounded yearly = principal × ((1 + annual rate)^years − 1), with interest added to the principal once a year.
- Amounts are shown to two decimal places.
- All calculations are done in your browser. The details you enter are not sent to any server.
Worked examples
50,000 at 8% a year for 9 months
- Details
- Principal $50,000.00; rate 8% a year; time 9 months
- Result
- Interest $3,000.00; total amount $53,000.00
20,000 at 6% a year for 120 days
- Details
- Principal $20,000.00; rate 6% a year; time 120 days
- Result
- Interest $394.52; total amount $20,394.52
25,000 at 7.5% a year for 4 years
- Details
- Principal $25,000.00; rate 7.5% a year; time 4 years
- Result
- Interest $7,500.00; total amount $32,500.00