About This Calculator

This calculator offers two main interest calculation methods:

• Simple Interest: Interest is calculated only on the initial principal
• Compound Interest: Interest is calculated on the initial principal and also on the accumulated interest over time

The formulas used in this calculator are:

• Simple Interest: A = P(1 + rt)
• Compound Interest: A = P(1 + r/n)^(nt)

Where:

• A = Final amount
• P = Principal (initial investment)
• r = Annual interest rate (in decimal)
• t = Time period in years
• n = Number of times interest is compounded per year