Simple Interest Loan Calculator
Calculate the total interest and total repayment for a simple interest loan.
Published by:
isCalculator Editorial Team
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How to use this tool?
How to Use the Simple Interest Loan Calculator
- Enter Principal Amount ($): Input the initial loan amount (e.g., 10000 for $10,000). Must be a non-negative number.
- Enter Annual Interest Rate (%): Input the yearly interest rate as a percentage (e.g., 5 for 5%). Must be non-negative.
- Enter Time Period (years): Input the loan duration in years (e.g., 3 for 3 years). Must be non-negative.
- Click "Calculate": Press the button to compute results.
- Total Interest: The interest amount earned or owed.
- Total Repayment: Principal plus total interest.
Results displayed:
Note: If any input is zero, interest is $0.00 and repayment equals the principal. All values must be non-negative; negative entries will show an error.
Previous Results
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Frequently Asked Questions
Simple interest is calculated only on the principal amount, not on accumulated interest. It is determined by multiplying the principal by the interest rate and the time period.
Enter the loan principal, annual interest rate, and time in years, then click 'Calculate'. The tool will display the total interest and total repayment.
If any input is zero, the total interest will be zero and total repayment equals the principal. The calculator handles zero values gracefully.
