Simple Interest Calculator
Formula
SI = P × R × T / 100 = 5,000 × 8% × 2.0000 = 800
Simple Interest
800
Total Amount
5,800
Effective Return
16.00%
Comparison: SI vs Compound Interest
Simple Interest 800
flat rate on principal
Compound Interest (Annual) 832
compounded yearly
Compound Interest (Monthly) 864.44
compounded monthly