Include additions (contributions) to the initial deposit or investment for a more detailed calculation. To use the compound interest calculator, youll need to enter some details about your deposit. Our interest calculator is multi-currency, allowing you to create projections using the following currencies: \$ - Dollar (US, Australia, etc) - Pound (UK) It is the basis of everything from a personal savings plan to the long term growth of the stock market. Paying Off a Loan Over Time. A is the amount you have after compounding.

This will be the base amount the compound interest is calculated on. Compound interest is the interest calculated on the initial principal of a deposit plus the accumulated interest from prior periods on a loan or deposit. But if you want to do it manually, you'll need to follow this formula: Multiple your annual interest rate by your principal starting value. Compound Interest Formula. If you need to work out the interest due on a loan, you can use the loan calculator. What Is Compound Interest? What you pay towards interest does not affect the balance of the loan. Compound interest can be easily calculated with the help of a compound interest calculator. You can calculate compound interest using the formula, A=P(1+r/n) nt. Interest compounded annually. It is also known as interest on interest. A part of the payment covers the interest due on the loan, and the remainder of the payment goes toward reducing the principal amount owed. You can calculate based on daily, monthly, or yearly compounding. Online Compound Interest Calculator - Use ClearTax compound interest calculator to calculate compound interest earned daily, weekly, monthly quarterly & annually.

See how much you can save in 5, 10, 15, 25 etc. In finance, compound interest is defined as interest that is earned not only on the initial amount invested but also on any interest. This is your new principal value. Here we discuss how to calculate monthly compound interest using formula along with examples. Compounding once at the end of the year is the easiest calculation for compounding interest. Learning the compound interest formula is key to understanding your savings potential. Simple Interest Calculator - Use ClearTax simple interest calculator to calculate simple interest. The calculation is shown below: