How To Calculate Simple Interest Loan Complete Guide

Here is an example using Simple Interest Calculator to find the simple interest rate and payment per month. We calculate simple interest by multiplying the principal p by the rate of interest r multiplied by time taken t in years. Just input the principal balance of your loan the interest rate and the number of years.

Payment 37742.

We calculate simple interest by multiplying the principal p by the rate of interest r multiplied by time taken t in years. Enter the amount of the loan and the simple interest rate. After entered Amount of loan 100000. If your loan term is less than one year you use a slightly different formula to calculate simple interest.