Currency
Principal
$
The starting amount borrowed or invested.
Annual interest rate
%
The yearly rate, from 0% to 100%.
Time
years
In years. A part of a year is a decimal, such as 0.5.
Interest earned
$1,500.00
$500.00 a year for 3 years
Final amount
$11,500.00
Principal plus interest
Principal
$10,000.00
+
Interest
$1,500.00
=
Final amount
$11,500.00
The principal plus the interest earned makes the final amount.
Estimates only, not financial advice.
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