Interest Calculator
Enter a principal amount, annual interest rate, term and compounding frequency to calculate the interest earned over time.
%
Optional. Leave as 0 if you won't add money regularly.
Formula
A = P × (1 + r/n)^(n×t); Interest = A − P
Example
2,000 at 6% compounded quarterly for 5 years earns approximately 696 in interest.
Frequently Asked Questions
- What's the difference between this and simple interest?
- Simple interest is calculated only on the original principal for the whole term; compound interest is calculated on the principal plus previously earned interest, so it grows faster.
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