# Simple Interest

Calculates simple interest

### This page exists due to the efforts of the following people:

**Author**- Timur - Simple Interest
**Created using the work of**- Timur - Simple Interest

**Interest** is the amount that is paid on the money deposited or borrowed.

**Simple interest** or **flat rate** is calculated on the original principal only. Accumulated interest from prior periods is not used in calculations for the following periods.

Thus the formula for simple interest is

,

where

I - simple interest

p - principal, amount lent or borrowed

r - rate, percentage of the principal charged as interest each time period (usually a year)

n - number of periods

Save the calculation to reuse next time or share with friends.

## Comments