How Simple Interest Works: An Example Suppose you take out a $5,000 loan at 6% interest for two years. To calculate the amount of interest you will pay, use the simple interest formula above.

Calculating the interest rate on a personal loan can be difficult. Most lenders use simple interest rather than compound interest, though, which makes the job a little easier. To calculate how ...

To calculate per-diem interest, take the interest rate (be sure to express it as a decimal, so 10% becomes 0.10) and divide by 365 to determine the daily interest rate.

How To Calculate Simple Interest on a CD Simple interest is the interest rate without compounding, meaning it’s applied just once and only to the principal.

Learn how to calculate the Simple Interest in Excel either for a single entry or a range or entries, between two dates, using this forumula.

Calculate APR from simple interest rates by extending or reducing the time period to a single year. For example, a CD may offer 1.5 percent simple interest over a three-month period.

Whenever calculating interest on a money market account, you need to be able to adjust the balance, interest rate, time in compounding periods and time in years for an accurate outcome.

With interest rates this high, you might want to figure out exactly how much you can earn with a high-yield savings account. Calculating interest earned can encourage you to save even more as you ...

To calculate per-diem interest, take the interest rate (be sure to express it as a decimal, so 10% becomes 0.10) and divide by 365 to determine the daily interest rate.

Wondering how much interest you could earn in a savings account? Here's how to crunch the numbers to calculate your earnings.