In this article, we will talk about the formula of compound interest calculator (CIC) and a site that is providing a calculator to get yearly compounding or balanced money. The CIC is very different from that simple interest formula. The CIC depends on Initial Balance, Interest Rate, Compounding Frequency, and Tenure.
Compound Interest Formula
A = P(1+r/n)(nt) Or At = P × (1 + r/n)nt
A = value of the investment
P = principal investment amount
r = interest rate (percentage)
n = number of times interest is compounded
t = number of periods the money is invested
*nt is a power of (1 + r/n)
Compound Interest Example
Suppose you have an amount of 5000 USD in a savings account, an annual interest rate is 5% and investment time is 10 years. Now things are:
P = 5000
r = 5/100 = 0.05
n = 12
t = 10
A = 5000 * (1 + 0.05 / 12) (12 * 10) = 8235.05
Site Of Compound Interest Calculator
The site provides a CIC formula with graphs. These are top sites on google ranking. The site is providing a number of formulas like finance, investment, goods, funds, taxes, Investment, volatility and etc.
The site is based on Finance, Investors, Investment Professionals, Investment Products, Understanding Fees, Investment Goals, Digital Assets, Mutual Fund, Expense Analyzer, and more related topics. The site has a well-designed calculator to calculate saving money.
The site has 3 types of calculators for visitors. Compound Interest, Simple Interest, and Daily Compound Interest. The compound interest calculator is used to check how the interest will grow over a period of years. The simple interest calculator is used to calculate the interest on savings/loan without CIC. The daily compound interest calculator to get the daily interest on your investment.
This is used to calculate the long-term savings & investment CIC and provide a number of other calculators like Personal loans, Home affordability, Mortgage payment, Down payment, Student loans, Retirement, and Debt payoff.
There are other websites that are also ranking on the search engine the first page are bankrate.com, investopedia.com, calculatestuff.com, financialmentor.com, and more. Hope this article will give you the right way to reach the right site or find the right formula to calculate CI.