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

The Simple Savings Interest Calculator

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sample figure : savings interest calculator display

savings interest calculator

The savings interest calculator requires the use of Javascript enabled and capable browsers. The savings interest calculator is designed to calculate the simple interest on a savings account over a finite time period. This is NOT compound interest. The Simple Interest Calculation Formula is:

So, how the savings interest calculator operate. The savings interest calculator will operate with data input below,

Deposit Amount (in dollars and cents) x Interest Rate x Time On Deposit (in years) = Total Earned Interest

The savings interest calculator will show the solution when enter the amount of the savings deposit and the simple interest rate. Then determine the length of the deposit time period. The calculation is done in years but you may enter either years or days in the savings interest calculator. The year is a financial 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. You may change the number of days for exact time span calculation but this is still based on a 365 day year for interest. Finally steps of this savings interest calculator simply click on Calculate and determine the Interest to the, potential and actual.That all how the simple savings interest calculator do its works.
Simple savings interest calculator source:
http://www.csgnetwork.com/simplesavingsintcalc.html.

savings interest calculator