Compound interest - meaning that the interest you earn each year is added to your principal, so that the balance doesnt merely grow, it grows at an increasing rate - is one of the most useful concepts in finance. It is the basis of everything from a personal savings plan to the long term growth of the stock market. It also accounts for the effects of inflation, and the importance of paying down your debt.
Compound interest is the concept of adding accumulated interest back to the principal sum, so that interest is earned on top of interest from that moment on. The act of declaring interest to be principal is called compounding.
My compound interest calculators allow you to compound interest on either a daily, monthly, quarterly, half yearly or yearly basis. Your savings account may vary on this, so you may wish to check with your financial institutions to find out which frequency they compound the interest on your savings.
Features:
*Elegantly simple and intuitive user interface
*Sending results to others by email.
*Quickly copy value to your clipboard
*Viewing the history record of calculation
