In this study, we derived several formulas for the currents induced in a circular loop by a magnet connected to a spring-based simple harmonic oscillation system. In addition, we conducted an experiment for measuring the induced currents and compared the results with the theoretical prediction. It was confirmed that the prediction from the derived formulas fits well with experimental results. Via derived formulas and a simple experiment, Faraday's Law and Lenz's Law could be easily explained.