Simple Interest Calculator
Calculate simple interest on a principal amount — straightforward, no compounding.
Inputs
$
$
%
Results
Total Contributions$34,000
Total Interest Earned$10,950
Final Balance$44,950
Formula: Total = Principal × (1 + rate × years) + interest on each contribution
= $10,000 × (1 + 5% × 10 yr) + contribution interest
Year-by-Year Breakdown
Swipe horizontally to see all columns →
| Year | Contributions | Interest | Balance |
|---|---|---|---|
| 0 | $10,000 | $0 | $10,000 |
| 1 | $12,400 | $555 | $12,955 |
| 2 | $14,800 | $1,230 | $16,030 |
| 3 | $17,200 | $2,025 | $19,225 |
| 4 | $19,600 | $2,940 | $22,540 |
| 5 | $22,000 | $3,975 | $25,975 |
| 6 | $24,400 | $5,130 | $29,530 |
| 7 | $26,800 | $6,405 | $33,205 |
| 8 | $29,200 | $7,800 | $37,000 |
| 9 | $31,600 | $9,315 | $40,915 |
| 10 | $34,000 | $10,950 | $44,950 |
💡 Most savings accounts and investments actually use compound interest, which grows faster. See how much more you could earn → Compound Interest Calculator
Frequently Asked Questions
Final balance$44,950