Simple Interest = Principal × Rate × Time

• Principal: Initial amount invested or borrowed

• Rate: Annual interest rate (as a percentage)

• Time: Time period in years, months, or days

• Interest: Amount earned or paid in interest

• Total Amount: Principal + Interest

• Simple Interest: Interest calculated only on principal amount

• Time Conversion: Automatically converts months/days to years

• Rate: Always enter as annual percentage rate

• Comparison: Use to compare different investment options

• Planning: Calculate future value of investments