Switch between simple and compound interest to see how much a balance grows.
Interest Calculator
Reviewed
ResultUpdates as you type
Interest$1,576.25
Final balance$11,576.25
Principal$10,000.00
- Principal86.4%
- Interest13.6%
Calculate simple or compound interest earned or owed over time.
Switch between simple and compound interest to see how much a balance grows.
Formula
Simple interest
I = P · r · tCompound interest
I = P · ((1 + r)^t − 1)Frequently asked questions
Simple vs compound — what is the difference?
Simple interest is charged only on the original principal. Compound interest is charged on the principal plus previously accumulated interest, so it grows faster.