l Simple and Compound and Continuous Interest Calculator

Enter 3 out of 4 below

<-- Accum Value
<-- Principal
<-- Interest %
<-- Time
      

Given an initial balance of 140,
an interest rate of 6%,
and time of 7

Calculate the Accumulated Balance
using Simple Interest:

Accumulated Value formula

AV = Principal * (1 + (int. rate * time))

Plug in our values

AV = 140 * (1 + (0.06 * 7))

Simplify

AV = 140 * (1 + 0.42)

AV = 140 * 1.42

Calculate the total interest earned:

Total Interest Earned = Accumulated Value - Principal

Total Interest Earned = 198.8 - 140

Total Interest Earned = 58.8

Calculate the interest earned:

Interest per Period  =  Interest Earned
  t

Interest per Period  =  58.8
  7

Interest per period = 8.4

Final Answer


Accumulated Value using Simple Interest = 198.8