Do factor this in when deciding if you can afford a loan. We are given all the details here and we can use the below formula to calculate the income that will be derived by investing 10000 monthly for 12 years at a rate of 1150 compounded monthly. The monthly compound interest for 2 years is Rs 172888.
20 lakh at a 10 annualized interest rate which is obtained by multiplying the rate per rest period into the number of rests per year where in one case the rate has annual rests.
Monthly Compound Interest 10000 1 812 212 10000. Under number of rests each year select the number of times a year the debt is to be compounded. In the amount box type the value of the principal amount. Interest Collected on Your Savings The interest you will earn on your savings of 35000 per month earning 6 annual interest for 39 months the number of months we calculated above would be required to accumulate 15000 in savings is calculated using the FV function in Excel as follows.