EuroSchool’s Online Compound Interest calculator is a digital tool designed specifically to help students accurately calculate compound interests without making any errors or worrying about miscalculations. How to Find Compound Interest on Calculator?
Step 1: Enter the numbers in the mentioned input fields.
Step 2: Click the ‘Submit’ button to allow the tool to conduct calculations
Step 3: Within a few seconds the tool will provide accurate compound interest calculations.
Principal :
Interest Rate :
Term of Loan :
Compound interest is the interest calculated on both the principal amount and the interest earned or accumulated over a specific time period. The term ‘Compounding’ refers to the accumulation of interest over time.
The formula for calculating Compound interest is:
Compound Interest = Amount - Principal
A = P (1+r/n)nt
Note:
P is the principal amount.
R is the rate of interest.
T is the total time period.
n is the number of times interest is increased or compounded in a year.
To determine compound interest for any given situation, use the above-mentioned formula. Let us take a few simple examples to practically understand the concept
Example 1
A= ?
P= Rs 1,000
T= 3 years
R= 5 %
1000 ( 1 + 0.05/1) 1 x 3 = Rs 1,157.63
Example 2
A= ?
P= Rs 2,000
T= 5 years
R= 6 %
Compound Interest Formula = A = P (1+r/n)nt
2000 ( 1 + 0.06/1) 1 x 5 = Rs 2,676.45
EuroSchool’s online Compound Interest calculator is a calculating tool that offers accurate and reliable solutions to given situations within a few seconds. Use the compound calculating tool today to quickly and effectively get answers to your math problems.
The basic formula for calculating compound interest is: A = P (1+r/n)nt
Using the basic formula of compound interest: A = P (1+r/n)nt, you can easily calculate monthly compound interest. In this situation, the value of ‘n’ will be 12 to calculate a monthly compounding figure.
