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Simple interest calculator help |
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Future value (FV) or Interest (I) |
The future value (FV) is the principal amount (P) lent or borrowed plus the interest amount (I). The interest (I) will be charged on a principal (P) at certain interest rate (R) for particular period of time (T). When an amount is entered in the input box also select what kind of amount it is by choosing "Future value (FV)" or "Interest (I)". The amount may contain max two digits after its decimal point. The amount entered may contain a comma (,) or a point (.) as a decimal point separator. Do not use the thousands separator in the amount. Correct entered amounts 5123.04 5123,04 6123 Incorrect entered amounts 5,123.04 5.123,04 5123.041 The simple interest equation: FV = P + I I = P * R * T where: FV = Future value I = Interest amount P = Principal amount R = Interest rate (as a decimal, not in percentage) T = Time period |