Verified calculation
Savings scenario
Calculate simple interest on a fixed amount and rate between two calendar dates.
Final amount
—
Interest—
Accrual days—
Period return—
Initial amount—
Model excludes capitalization, contributions, withdrawals, taxes, bonuses, tiered rates, minimum balances and early termination.
Calculation method
The deposit date is excluded and the return date is included. Each accrual day uses the fixed principal and a 365- or 366-day denominator for its calendar year.