Compound Interest Calculator

About Compound Interest Calculator Android App

Compound Interest Calculator:

The Concept of Compound interest is that Interest is added back to the principal sum so that interest is earned on that added interest during the next compounding period.

What's Compound Interest?:
When you take out a loan, interest is calculated for the first period (be it a month or a year).
This interest is then added to the original total. Following on from that, the interest for the next period is calculated but is based on the gross figure from the first period.

Formula for Total Amount (including Principal sum) A = P ( 1 + r/n ) ( nt )

Where:

A = Future value of the investment/loan, including interest
P = Principal Investment amount (the initial deposit or loan amount)
r = Annual Interest Rate (decimal) R / 100
R = Annual Intrerest Rate (in %)
n = Number of times that interest is compounded per year
t = Number of years the money is invested or borrowed for

Note that this formula gives you the future value of an investment or loan, which is compound interest plus the principal.
To calculate the compound interest only, Below formula is used:

Total Compounded Interest = P ( 1 + r/n ) ( nt ) - P

This app is designed and developed so that you can calculate Compound Interest of your Principal Amount based on Interest Rate (%) per year, Duration in either years or months or days and Compounds per year.

- This app can calculate Compound Interest and Total Amount including Interest, if you know Principal Amount, Interest Rate (%), Duration and Compounds per year.

- This app can also calculate Principal Amount if you know Compounded Interest Amount, Interest Rate (%), Duration and Compounds per year.

*** Please Note that this app is interactive and play sounds while using.