To calculate interest multiply the principal by the interest rate and the term of the loan. Using the above example of the loan to a friend the principal is 2000 and the rate. FV Final value principal interest P Principal starting amount r Annual interest rate as decimal t time period in years.
Monthly Interest Calculator is an online personal finance planning tool used to calculate the total simple or compound interest total repayment and annual percentage rate according to the input values of Principal Time period in Months Interest Rate and Interest Type.
To calculate the monthly interest on 2000 multiply that number by the. Monthly Interest Calculator is an online personal finance planning tool used to calculate the total simple or compound interest total repayment and annual percentage rate according to the input values of Principal Time period in Months Interest Rate and Interest Type. Convert 3 months into years. Simple Interest SI P R T100.