Easy Online Compound Interest Calculator!

Find out how much money you can save for your future!

Calculate complex compound interest in seconds using the easy compound interest calculator from Vakilsearch.







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Compound Interest Calculator

Compound interest, also known as 'interest on interest,' refers to the concept of adding accumulated interest back onto your principal balance, with additional interest calculations on both the original payment and the already-accrued interest. The frequency determines the rate at which compounding interest occurs; the more frequent the compound interest, the greater this same compound interest.

For instance , if you earn 10% annual interest, at ₹100 deposit will earn you ₹10 after a year. One will earn interest on your deposit as well as interest on the interest you have already earned. You can easily calculate compound interest using Vakilsearch online interest rate calculator.

Tips to Calculate Compound Interest Using Simple Compound Interest Calculator Online

  • To begin, you must figure out how much you have to invest up front. Enter the data in the corresponding fields.

  • Subsequently make sure to select the required option on adding more money to the invested capital. Provide the correct information.

  • Select whether you want to make the payments annually or monthly.

  • Subsequently select the overall time period to make the investment.

  • You have the option of moving the slider or simply entering the amount of time in the provided box.

When you've finished investing cash into your capital invested, you have the option of continuing to invest for a longer period of time. This means that your interest will replicate and grow over time. When choosing the total tenure of investment make sure to select it a bit longer than the total number of actual years that you are willing to invest.

Again, you have the option of moving the slider or entering the number directly into the provided box. If you know how much money you want at the end of the investor term, you can look at the graph on the right side of the page. You can see how much funds you can anticipate earning at the end of your asset term as you change the interest rate, either by moving the slider or entering numbers into the box.

This will provide you with a clear indication of the best rate of interest to choose based on your asset capabilities, the total period of investment, and the amount of money users hope to have at the end of the investment can be calculated immediately.

Formula for Compound Interest - How to Calculate Compound Interest?

In order to calculate a simple compound interest the following formula is utilised.

P(1 + r/n)nt = A

From the equation

A = Amount Accrued (principal + interest)
P denotes the principal amount.
r = Decimal annual nominal interest rate
R = Annual nominal interest rate expressed as a percentage
r = R/100
n = the number of compounding periods per time unit.
t = time in decimal years

for instance, if you want to calculate the decimal years you have to divide the total tenure by 12. For example 6 months is equal to 0.5 years (6/12)

Simple Interest Formula - How to Calculate Simple Interest?

The simple interest calculator will display the total amount owed, which includes both principal and interest. The simple interest calculator employs the following mathematical formula:

A = P (1+rt)

P denotes the principal amount
R = Interest Rate
t is the number of years.
A = Total amount accumulated (Both principal and the interest)
A = Total amount accumulated (Both principal and the interest)
A - P = Interest

Let's look at an example to see how the simple interest calculator works. Say the principal amount is ₹10,000, the interest rate is 10%, and the term is 6 years. The simple interest can be calculated as A = 10,000 (1+0.1*6) = ₹16,000.
Interest = 16000 - 10000 = ₹6,000.

Simple Interest Vs Compound Interest.

Both simple interest and compound interest have advantages. Let's look at the distinction between simple and compound interest calculations:

Simple InterestCompound Interest
In simple interest, you only acquire interest on your initial investment.Compound interest earns interest on both the previous interest and the principle.
lThe principal amount is fixed.After each compounding period, the principal amount changes.

Frequently Asked Questions (FAQs)