Simple interest calculator help |

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Interest rate (R) |
The interest rate (R) is expressed as percentage (%) per interest period.
The interest rate may contain max two digits after its decimal point. The interest rate entered may contain a comma (,) or point (.) as a decimal point separator. Correct entered interest rates5.25 5,25 4 Incorrect entered interest rates5.041 You can choose between the following interest periods: **day** For example: 4.5% per day Every day the interest will be calculated on the principal amount for the specified time period (T).
**week** For example: 4.5% per week Every week the interest will be calculated on the principal amount for the specified time period (T).
**two weeks** For example: 4.5% per two weeks Every two weeks the interest will be calculated on the principal amount for the specified time period (T).
**half month** For example: 4.5% per half month Every half month the interest will be calculated on the principal amount for the specified time period (T).
**month** For example: 4.5% per month Every month the interest will be calculated on the principal amount for the specified time period (T).
**two months** For example: 4.5% per two months Every two months the interest will be calculated on the principal amount for the specified time period (T).
**quarter** For example: 4.5% per quarter Every quarter the interest will be calculated on the principal amount for the specified time period (T).
**half year** For example: 4.5% per half year Every half year the interest will be calculated on the principal amount for the specified time period (T).
**year** For example: 4.5% per year Every year the interest will be calculated on the principal amount for the specified time period (T).
Example 1: How time period will be adjusted:Interest rate = 5% per month Time period = 7 weeks 52 weeks equals 12 months equals 1 year Thus 7 weeks equals (7*12)/52 = 1.615384 months Example 2: How time period will be adjusted:Interest rate = 5% per two weeks Time period = 2 quarters 4 quarters equals 26 two weeks equals 1 year Thus 2 quarters equals (2*26)/4 = 13 two weeks Example 3: How time period will be adjusted:Interest rate = 5% per half year Time period = 2 half months 24 half months equals 2 half years equals 1 year Thus 2 half months equals (2*2)/24 = 0.166667 half year The simple interest equation: FV = P + I I = P * R * T FV = P + P * R * T P * R * T = FV - P R = (FV - P) / (P * T) where: FV = Future value I = Interest amount P = Principal amount R = Interest rate (as a decimal, not in percentage) T = Time period |