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Compound Interest Calculator(Calculate Compound Interest)

Compound interest means interest is added to the principal, and then calculate the interest for the next period. The interest which is calculated not only on the initial principal but also the accumulated interest of prior periods.
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Principal amount  An annual interest rate
  
%
Number of years  Number of times per year
  

Amount:
  
The formula for Compound Interest: F=P(1+r/n)nt
  • P =initial principal
  • r = annual nominal interest rate
  • n = number of times the interest is compounded per year
  • t = number of years
  • F = future amount after time t

Example usage: If you start a bank account with $1200 and your bank compounds the interest quarterly at an interest rate of 4.2%. Find the balance after 5 years.Using the formula above, with P = 1200, r = 4.2/100 = 0.042, n = 4, and t = 5:F=1200X(1+0.042/4)4X5 .So, the balance after 5 years is $1478.79.



Top Use:    Compound Interest Calculator - Principal:117800 Interest rate:3 Times:12 Years:1

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