(or the advanced formula with annual additions),Īs well as a calculator for periodic and continuous compounding. See How Finance Works for the compound interest formula, It also accounts for the effects of inflation,Īnd the importance of paying down your debt. To use the calculator, input the principal balance of your loan, the interest rate and the loan. Our Simple Loan Financial Calculator can help you. It is the basis of everything from a personal savings plan to the long term growth of the stock market. Our simplified loan payment calculator can help you determine what your monthly payment could be. When you need help crunching the numbers, our financial calculators are a helpful tool to get you started.
Compound interest - meaning that the interest you earn each year is added to your principal, so that the balance doesn't merely grow, it grows at an increasing rate - is one of the most useful concepts in finance.
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