| Time in years | 3 |
|---|---|
| Interest per year | $300.00 |
| Interest per day | $0.82 |
| Compound interest (yearly compounding) | $955.08 |
| Extra with compounding | $55.08 |
I = P × r × t = $5,000.00 × 0.06 × 3 = $900.00. The total amount is A = P + I = P(1 + rt).
Simple Interest Calculator · free calculator by CalcWorthy