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Calculate interest rates for loans, savings, and investments.
Interest earned
$2,500.00
Total: $12,500.00
Interest earned
$2,833.59
Total: $12,833.59
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High-yield savings accounts are paying 4.5%+. Compare rates and open an account in minutes.
Simple interest = Principal × Rate × Time. Interest is only calculated on the original principal, not on accumulated interest.
Simple interest is calculated only on the principal. Compound interest is calculated on the principal plus accumulated interest, so it grows faster over time.
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