You can use an online calculator to figure the present and future value of an annuity.

How Simple Interest Works: An Example Suppose you take out a $5,000 loan at 6% interest for two years. To calculate the amount of interest you will pay, use the simple interest formula above.

How to calculate simple interest on a loan Simple interest is most commonly used for short-term loans – like payday loans, or some types of personal or auto loans.

How to calculate the interest rate on a personal loan? A simple guide Higher interest rates raise total borrowing costs, impacting loan payments. Personal loans do not require collateral, and ...