Work out the compound interest on your savings with this simple but feature-rich calculator. This calculator supports a full range of compound intervals: daily, weekly, monthly, quarterly, semi-annual and annual.
Features:
- Compound intervals: daily, weekly, monthly, quarterly, semi-annual and annual
- Periodic deposits: daily, weekly, monthly, quarterly, semi-annual and annual
- Adjust your deposit by inflation
- Interactive and easy change of all your parameters
- Simple and clear display of results
- Savings growth chart
- Savings growth report in a tabular view
- Print your report or save it as a PDF file
- Print your savings growth chart or save it as an image
Compound interest - interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. Compound interest can be thought of as "interest on interest," and will make a deposit or loan grow at a faster rate than simple interest, which is interest calculated only on the principal amount.
The rate at which compound interest accrues depends on the frequency of compounding; the higher the number of compounding periods, the greater the compound interest. Thus, the amount of compound interest accrued on $100 compounded at 10% annually will be lower than that on $100 compounded at 5% semi-annually over the same time period. Compound interest is also known as compounding.
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