Instructions for use: enter the initial amount of the deposit or loan, the annual interest rate, indicate the period and units of its calculation (in days, weeks, months, quarters or years), as well as the frequency of interest calculation. Then press the button “Calculate”. Thus, the amount of compound interest will be calculated according to the specified parameters, as well as the final amount at the end of the specified period and profitability.
Content
Compound Interest Calculator
Note: in calculations, the number of weeks in a year is rounded up to 52.
Calculation formula
- S1 – the initial amount;
- Sn – total amount at the end n-th (specified) term;
- Rn – nominal annual interest rate in the form of a coefficient (equals to the percentage rate divided by 100%);
- M – the number of selected time units per year (365 or 366 days, 12 months, 52 weeks, 4 quarters or 1 year);
- N – period in selected units (days, weeks, months, quarters or years).
The amount of accrued interest (I) equals the difference between the final and initial amounts (I = Sn – S1).
Yield in percent (D%) is calculated as follows:
