what is this annual interest rate figure that calculates the simple interest you can earn through staking?

A crypto staking calculator is a tool that helps investors estimate their potential earnings from staking cryptocurrencies. Staking is the process of holding and locking up a certain quantity of cryptocurrency in a digital wallet to support the functioning of blockchain networks or on-chain applications. The interest rate used in the calculation is the annual percentage yield (APY) of the staking reward. The formula for calculating the total earnings from staking the cryptocurrency involves three components: the initial investment, the annual percentage yield, and the time horizon. The formula used by different calculators may vary slightly, but they all take into account the amount of cryptocurrency being staked, the duration of the stake, and the current market price of the cryptocurrency. To get an accurate estimate of potential earnings, it is important to have a solid understanding of crypto staking and to consider the interest rate for the chosen platform, as a higher interest rate yields larger rewards.