Interest Calculator
Calculate simple and compound interest for savings, loans, and investments. Determine how much interest you’ll earn or pay over time with different compounding frequencies.
Step 1: Investment Details
Understanding Interest Types
Compound interest calculates interest on both principal and accumulated interest, while simple interest only calculates on the original principal. Compound interest yields higher returns over time.
Step 2: Additional Settings
About Compounding
More frequent compounding periods result in higher returns. Continuous compounding represents the theoretical limit of compounding frequency and yields the maximum possible return.
Interest Calculation Results
Total Future Value
Compounding Frequency Comparison
| Compounding Frequency | Future Value | Interest Earned | Effective Annual Rate |
|---|
Year-by-Year Growth
Interest Calculation Formula
Compound Interest: A = P(1 + r/n)nt
A = Future Value, P = Principal, r = Annual Interest Rate, n = Compounding periods per year, t = Time in years
Simple Interest: A = P(1 + rt)
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