![]() Add 1 to the number that you get to denote the compound interest.This is because interest rates are usually expressed for the whole year. The formula used for compound interest per month is: This will give you the new balance that you will have in your account.Multiply the result that you get with the principal amount or the current balance of your account.To this value put the power of the tenure of your loan or the number of years you want to have your savings for.Add 1 to the rate of interest which is usually a decimal.Now, compound interest may be calculated either monthly or annually. However it is important for you to know how this value is determined to manage your wealth better. ![]() You have the advantage of several online EMI calculators to help you calculate compound interest on savings and borrowings. ![]()
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