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Compound interest calculator
Compound interest is calculated on both the initial payment and the interest earned in previous periods.
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Examples:
example 1:ex 1:
What is the value of a $4500 deposit at 7% compounded annual interest if it is held in a
bank for 9 years?
example 2:ex 2:
What will a $3500 deposit at 10% compounded
monthly be worth after 8 years in the bank?
example 3:ex 3:
How much money would you need to put today at 8% annual compounded monthly
interest to have $1200 in the account after 12 years?
example 4:ex 4:
Determine the present value of $1000 at a 12% annual interest rate compounded
quarterly at the end of two years.
example 5:ex 5:
What is the estimated yearly interest rate if you give someone $1700 and get repaid
$1910 in two years?
example 6:ex 6:
Assume that a savings account with a principal of $1350 is compounded monthly.
After 8 months, the total had risen to $1424. What was the interest rate per year?
example 7:ex 7:
How long does it take $4300 to grow to $6720 when compounded quarterly at
9%?
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