Enter the initial amount, interest rate _{(%)}, time period in months or years, then click the **Calculate** button to get the result.

### Simple interest calculation formula:

**Interest amount = Initial amount × (Annual interest rate**_{(%)} / M) × t

M – number of periods per year

t – number of periods

_{(%)}/ M) × t

The interest amount is equal to the initial amount, multiplied by the annual interest rate _{(%)}, divided by the number of periods per year **M**, times the number of periods **t**.

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