Compound Interest Calculator

The Compound Interest Calculator can be defined as the investment rate is growing exponentially and the not linearly as in the case of simple interest.

 

Steps for Calculating Compound Interest

 

Step 1 : Formula for calculating the total amount, Total amount = P(1+(R/100))n. Compound interest = Total amount - principal.

 

Step 2 : When the Time is given in months then: 1 month= 0.08, 2 months = 0.17, 3 months= 0.25, 4 months= 0.33, 5 months= 0.42, 6 months= 0.50, 7 months= 0.58, 8 months= 0.67, 9 months= 0.75, 10 months= 0.83 and 11 months= 0.92.

Done