Online Compound Interest Calculator :
Compound Interest Calculator :
- Compound Interest calculator is going to find the interest of amount.
- When it comes to investing, compound interest is better since it allows funds to grow at a faster rate than they would in an account with a simple interest rate.
- Compound interest comes into play when you’re calculating the annual percentage yield.
- That’s the annual rate of return or the annual cost of borrowing money.
- Finally, It is called as the compound interest calculator.
Compound Interest Calculation Formula :
- Furthermore the Compound Interest Calculator,
- Yearly = 1 , Quarterly = 4 , Monthly = 12.
- Period = Years + Months.
- Compound Interest = Number(p.value) * (1 + Number(r.value / 100)/(compound_time),period*time)).
- These are the Compound Interest formula.
Types of Compound Interest Formula :
- Finally Monthly Compound Interest Formula is given below.
- So, Interest compounded monthly is calculated 12 times in a year.
- Secondly, Compound Quarterly Formula.
- So, Interest compounded quarterly is calculated four times in a year.
Why is compound interest important ?
- Compound interest makes your money to grow faster because interest is calculated on the accumulated interest over time as well as on your original principal.
- Compounding can create a snowball effect, as well as the original investments plus the income earned from those investments grow together.
How to Calculate ?
- Enter the Initial Amount and Enter the Interest rate.
- Select the option whether, it is Yearly, Quarterly, Monthly.
- Enter the Years and Enter the Months.
- Click “Calculate” button to get the result.
- Click “Reset” button to clear all the values, then you can enter the new values to calculate.
- These are the steps which should be equally important in addition to calculate the compound interest rate.