Interest Calculator
1. What is the difference between simple and compound interest?
Simple interest is calculated only on the principal amount, whereas compound interest is calculated on the principal plus any interest already earned.
2. How do I use this calculator?
Enter the principal amount, interest rate, and time in years. Select either simple or compound interest, then click “Calculate” to see the results.
3. Can I calculate interest for multiple years?
Yes, simply enter the total number of years in the “Time” field. The calculator will compute both simple and compound interest based on your selection.
4. Does this calculator work for any currency?
Yes, the calculator works for any currency. Just enter the principal in your currency, and the interest will be calculated accordingly.
5. Can I use this calculator on my mobile device?
Absolutely! The calculator is fully responsive and works on desktops, tablets, and smartphones.