By Ben Broadwater Being able to calculate simple interest is key to your financial literacy. The simple interest calculator below will help determine the amount of interest charged on a loan, fixed deposit or savings account over a specific period of time. In other words, it is used to calculate monthly payments that are simple interest-only.
Simple Interest Calculator
How The Simple Interest Calculator Works
The simple interest calculator includes fields for:
Loan Amount (in Dollars) – Put the amount borrowed into the area marked “loan amount.”
Interest % – The “interest” field is where you should put the simple interest rate.
Payment (Months or Years) – The result …read more
