Total Value 206103 Total Interest 106103. Using a Compound Interest Calculator. For example if you deposited 1000 into a savings account with a 1 interest rate youd earn 10 in interest during the first year and end up with a final balance of 1010.
Compound interest or interest on interest is calculated with the compound interest formula.
Compound interest is one of the most important concepts to understand in investing. The formula used in the compound interest calculator is A P 1rnnt A the future value of the investment P the principal investment amount. Compound interest is one of the most important concepts to understand in investing. Compound interest refers to interest that not only accumulates on a balance but also continues to earn interest on itself.