Use the free Accrued Interest Calculator on ToolVexa to work out simple interest that has built up on an amount over time. Enter the principal, annual rate and number of years.
How to Use
Enter the starting amount, the annual interest rate as a percentage, and the number of years, then press Calculate.
Formula in Plain Words
Multiply the principal by the annual rate as a decimal and by the number of years. That gives the interest. Add it to the principal to get the total amount.
Worked Example
With $5,000 at 5% per year for 2 years, the accrued interest is $500.00, and the total amount is $5,500.00.
FAQs
Is this simple or compound interest?
This calculator uses simple interest, so interest does not earn interest of its own.
Can I use part of a year?
Yes. Enter a decimal for years, such as 0.5 for six months.
Is this financial advice?
No. It is an estimate only, and actual interest depends on the account or loan terms.