COMPOUND INTEREST CALCULATOR
About our compound interest calculator
Compound interest calculator provided at the end of this web page will calculate simple interest for the given principal at certain rate of interest for the given period of time. It does not give just only
the simple interest for the given principal and also it gives you the total amount which includes both the amount invested (principal) and the interest charged..As soon as
you enter the inputs principal, rate of interest, time period, number of times of interest compounded per year, click the button "calculate", it will give you the total amount (principal + interest) and interest.
Why do people need this calculator?
Apart from the regular calculator, people who study math are in need of this compound interest calculator. Because, when people work out lengthy problems, they may not have time to find simple interest for the given principal, rate of interest and time period. At that time, calculating compound interest would be an additional burden for them in solving lengthy math problems. To reduce the burden of those people, we have provided this online calculator for compound interest here.
Using the calculator in solving word problems
When people do preparation of solving word problems on compound interest, they may have to spend time to get idea on "How to solve". In this situation, they would not like to spend time to find compound interest for the given principal, rate of interest and time period. Because, when people do word problems on compound interest, they have to do this work separately and they might do some careless mistakes in finding compound interest. It will definitely disturb the solving of lengthy problem. And also they would not be able to use the regular calculators to find simple interest. By using this online calculator, students will find much time to get idea of solving the word problems.
Advantages of using this online calculator
School students have the topic "Compound Interest" in both school level and college level Math. Students have to find compound interest for the principal, rate of interest, time period, number of times of interest compounded per year. They find compound interest for the given principal as directed in the question.But they are not sure whether the answer they got is correct or incorrect. At that time, they can check the answer they have received is correct or incorrect using this calculator.
Formula for Compound Interest
COMPOUND INTEREST CALCULATOR
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