Simple Interest Earned

vCalc Reviewed

$"Simple Interest Earned" = "P" * r * t$

$(P)"Principal"$

$(r)"Interest Rate"$

$(t)"Number of Periods"$

The Math / Science

This formula provides a rough estimate of the earnings of a principal amount (P) at a a certain interest rate (r) over a number (t) of periods. This formula is useful for a quick rough estimate of return on investment.

Personal Finance Calculators

Monthly Loan Payment: Computes the monthly payment of a fixed interest rate loan (e.g., home mortgage or car loan).
Credit Card Equation: Computes the number of months to pay off a credit card.
Mortgage Affordability: Compute the amount of principal one can borrow based on monthly payment, duration and interest rate.
Leverage Ratio: Calculates a ratio describing debt to income.
Compound Interest: Computes the compounded interest on a fixed interest rate investment
CAGR: Computes the compounded annual growth rate achieved on an investment.
Rule of 72: Provides a quick estimate on time to double an investment
Simple Interest Earned: Computes a rough estimate on interest earned over time.
Wage Calculator: Computes the annual, monthly and weekly pay amounts base on hourly wage and hours per week.
Current Mortgage Rates:
- 30 Year Fixed Interest Rate: 6.92 %
- 15 Year Fixed Interest Rate: 6.37 %
- 7/6 SOFR ARM: [Invalid Constant]

Financial Calculators

Also consider the following finance and accounting equations and calculators: