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| Compound Interest Formula: Amount of money after x years = Current Amount * (1 + Interest Rate)^x | |||
Compound Interest Definition The Compound Interest Calculator makes it easy for anyone to calculate the compound interest that is earned on any type of investment or savings account. It is often said in the world of finance that there is nothing quite so remarkable or powerful as the principle of compound interest because the truest general definition of compound interest is money working for you by accumulating interest and even having the interest earned accumulate interest on itself! Try out the free online compound interest calculator to calculate compound interest by entering in the dollar amount invested/saved, the interest rate, and the number of compounding periods. Looking for a Simple Interest Calculator instead? Check it out here and see the difference between the two. How to Calculate Compound Interest Let's be honest - sometimes the best compound interest calculator is the one that is easy to use and doesn't require us to even know what the compound interest formula is in the first place! But if you want to know the exact formula for calculating compound interest then please check out the "Formula" box above. |