Simple Interest Calculator With Regular Deposits/Withdrawals
https://www.thecalculatorsite.com/finance/calculators/simple-interest-calculator.php
WEBJan 26, 2024 · To give an example, if you wish to calculate simple interest on a $5,000 loan at a 3% annual interest rate for 2 years, your calculation would be: 5000 × 0.03 × 2 = $300. Likewise, if you borrow $500 from a friend at 3% per month for 6 months, your simple interest calculation would be: 500 × 0.03 × 6 = $90.
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