About This Calculator
About the Compound Interest Calculator
Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods. It can be thought of as "interest on interest," and it will make a sum grow at a faster rate than simple interest.
How it Works
- Principal Amount: The initial amount of money.
- Annual Interest Rate: The rate at which the money grows per year.
- Time Period: The duration for which the interest is calculated.
- Compound Frequency: How often the interest is calculated and added to the principal (e.g., annually, monthly).
This calculator shows you how your investment can grow over time through the power of compounding.
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