Compound Interest Calculator

What is an Online Compound Interest Calculator?

Centre Point School International’s Online Compound Interest calculator is a digital tool designed specifically to help students accurately calculate compound interests without making any errors or worrying about miscalculations.
How to Find Compound Interest on Calculator?

Here are the steps to use the Centre Point School International Compound Interest Calculator online:

Step 1: Enter the numbers in the mentioned input fields.
Step 2: Click the ‘Submit’ button to allow the tool to conduct calculations
Step 3: Within a few seconds the tool will provide accurate compound interest calculations.

What is meant by Compound Interest?

Compound interest is the interest calculated on both the principal amount and the interest earned or accumulated over a specific time period. The term ‘Compounding’ refers to the accumulation of interest over time.

Formula To Find Compound Interest

The formula for calculating Compound interest is:

Compound Interest = Amount – Principal

A = P (1+r/n)nt

Note:

P is the principal amount.
R is the rate of interest.

T is the total time period.
n is the number of times interest is increased or compounded in a year.

How to Calculate Compound Interest?

To determine compound interest for any given situation, use the above-mentioned formula. Let us take a few simple examples to practically understand the concept

Example 1

A= ?
P= Rs 1,000
T= 3 years
R= 5 %

Compound Interest Formula = A = P (1+r/n)nt

1000 ( 1 + 0.05/1) 1 x 3 = Rs 1,157.63

Example 2

A= ?
P= Rs 2,000
T= 5 years
R= 6 %

Compound Interest Formula = A = P (1+r/n)nt

2000 ( 1 + 0.06/1) 1 x 5 = Rs 2,676.45

FAQs

Q1. How can one calculate compound interest?

Centre Point School International’s online Compound Interest calculator is a calculating tool that offers accurate and reliable solutions to given situations within a few seconds. Use the compound calculating tool today to quickly and effectively get answers to your math problems.

Q2. What is the formula of compound interest?

The basic formula for calculating compound interest is: A = P (1+r/n)nt

Q3. How do I calculate compound interest monthly?

Using the basic formula of compound interest: A = P (1+r/n)nt, you can easily calculate monthly compound interest. In this situation, the value of ‘n’ will be 12 to calculate a monthly compounding figure.