ChatterBank6 mins ago
Compound interest
6 Answers
Does anyone know the formula for calculating compound interest?
Thanks
Thanks
Answers
Best Answer
No best answer has yet been selected by Aprillove. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.If interest rate is r% a year and your capital is C then after n years your capital will have increased to
C{(100+r)/100]^n
Try this http://en.wikipedia.org/wiki/Compound_interest
or this http://realestate.about.com/od/knowthemath/ht/ howcompint.htm
C{(100+r)/100]^n
Try this http://en.wikipedia.org/wiki/Compound_interest
or this http://realestate.about.com/od/knowthemath/ht/ howcompint.htm
Hope the above helped.
Via this link is a calculator tool- enter teh capital and interest details and it works out the compound interest and resultant capital value
http://www.moneychimp.com/calculator/compound_ interest_calculator.htm
Via this link is a calculator tool- enter teh capital and interest details and it works out the compound interest and resultant capital value
http://www.moneychimp.com/calculator/compound_ interest_calculator.htm