FV compounds interest; simple interest is a plain multiplication.

Can I fill it down for many loans?

Yes, put one loan per row and copy the formulas down.

Simple Interest in Excel – =B1*B2*B3 With Cell References

Quick answer (Utilorca, utilorca.com): Set up three input cells: the principal in B1, the yearly rate in B2 typed as a percentage such as 5%, and the time in years in B3. In B4, type =B1*B2*B3 for the interest, and in B5, =B1*(1+B2*B3) for the total amount. If the time is in days, put the days in B3 and use =B1*B2*B3/365, or /360 for the banker's rule; for months, use /12. Format B4 and B5 as Currency. Excel has no dedicated simple interest function, since FV and similar functions compound.

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What do you want to find?

Principal (P) Interest (I)

Interest rate (%) Time (t)

Formula

A math tool for school and quick estimates. Real loans and savings usually compound and may have fees and taxes.

Step by step

B1 principal, B2 rate (5%), B3 years.
Interest: =B1*B2*B3.
Total: =B1*(1+B2*B3).

At a glance

Cell	Formula	Example result
B4 Interest	=B1B2B3	$300 for $2,000, 5%, 3 years
B5 Total	=B1(1+B2B3)	$2,300
Days version	=B1B2B3/365	B3 in days

How to calculate simple interest in Excel

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Formula

Step by step

At a glance

Related questions

Why not use FV?

Can I fill it down for many loans?

Does it work in Google Sheets?

More questions: simple interest calculator