The Compound Savings Interest Calculator

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Sample figure: Compound savings interest calculator display

savings interest calculator

The savings interest calculator requires the use of Javascript enabled and capable browsers. The savings interest calculator designed to calculate the compound interest on a savings account or CD over a finite time period. This savings interest calculator is NOT simple interest. The savings interest calculator Formula is based on the philosphy that interest is paid on original amount of deposit, plus any interest earned. Here is the formula:

(Original Amount + Earned Interest) x Interest Rate x Time On Deposit = Total Interest Earned

So how this type of savings interest calculator work? Simply enter the amount of the savings deposit and the compound interest rate. Then determine the length of the deposit time period. The savings interest calculator wil done the calculation in years but you may enter either years or days. The year is a finacial year of 365 days, as opposed to a calendar year and may or may not be the "exact number of days" if multiple years are spanned. The compounding is annual. Click on Calculate and determine the Interest, potential and actual. That all how the compound savings interest calculator do its works. Compound Savings Interest calculator source : http://www.csgnetwork.com/compoundsavingsintcalc.html

savings interest calculator