Compound Interest Calculator
I want to calculate:
Input known variables:
Input known variables:
| Variable | Period |
|---|---|
 Principal( $ ):The original amount of money you want to put into a bank | |
| Interest Rate:Percentage of principal that bank is paying to you | % per year |
| Time:How much time the money will stay into a bank? | |
| Compound:Ask your financial institution to let you know how the interest is compounded | |
| Amount( $ ):Amount is the original principal P plus the accumulated interest |
Show me the solution without an explanation
Explanation
Problem
Problem goes here
Result
Result goes here
Explanation
To find the amount we use formula:
$$ {A = P(1 + \frac{r}{n})^{nt} }$$
A = total amount
P = principal or amount of money deposited
r = annual interest rate
n = number of times compounded per year
t = time in years
In this example we have:
After plugging in the given information we have:
