Continuous Compound Interest Calculator With Regular ...

Quickly Calculate Your Compounded Savings & Interest Earned ... the anticipated interest rate, the compounding interval, and how long you anticipate holding ... 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Varyingdeposit&compoundingintervalscanmakecalculationsquitecomplex,soifyouplanoninvestingatdifferentratesoverdifferentperiodsoftime,itisrecommendedyourunyourfirstcalculationattheinitialrateandthensavetheoutputofthatcalculationtouseastheinputforthesecondinvestmentperiod.Whilethiscalculatorisquiteprecise,investingtermscanchangeovertime&thiscalculatordoesnotaccountfortheimpactsoftaxesandinflation,thustheresultsshouldonlybeconsideredasroughestimates.Wealsoprovideacalculatorthatletsyouenterasavingsgoalandthensolveforthecontributionneededtoreachthatgoal. Foryourconveniencecurrentsavingsratesforhigh-interestsavings,moneymarketaccountsandCDsarepublishedbelowthecalculator. Calculator Rates EnterYourSavingsInvesmentInfo Amount Optionalinitialinvestment($): Daily Weekly Bi-weekly Half-monthly Monthly Bi-monthly Quarterly Semi-annual Annual addition: Annualinterestrate(APR%):(GetCurrentRates) Compoundinginterval: Daily Weekly Monthly Quarterly Semi-annual Annual Continuous Yearsinvested: YourSavings Amount Futuresavings: Totaldeposits: Interestearned: MakeYourMoneyWorkHarder! Isyourbankofferingcompetitiverateswhichbeatinflationandtaxes?Ifnot,youmaybeabletoearnabetterrate&makeyourmoneyworkharderbyshoppingaround. Thefollowingtablelistscurrentlyavailableratesforsavingsaccounts,moneymarketaccountsandCDs. UnderstandingCompoundInterest Weareconstantlyshownnumberswhicharestrippedofcontext.Teaserratersonadjustablemortgages,APRratesoncreditcardswhichdon'thighlightotherfeesorthecompoundingeffects,andsecuredcreditcardswhichhaveaneffectiveAPRofabove100%afterpayingforthemembershipfee-and,what'sworse,isthatonasecuredcreditcardthecardholderispayinginterestontheirownmoney. Thiscalculatoraimstostripthingsdowntotheessence,showinghowthecompoundingimpactsofinterestaddupwhencompoundedatdifferentintervals. Accordingtourbanlegend,AlbertEinsteinsaid:“Compoundinterestistheeighthwonderoftheworld.Hewhounderstandsit,earnsit...hewhodoesn't...paysit.” CompoundInterestFormula p=valueafterttimeunits r=nominalinterestrate n=compoundingfrequency t=time Usingtheaboveformula,youcancalculatethefuturevalueofanyunitofcurrency.Thenmultiplytheresultbyyourinitialinvestmentamounttogetyourtotalfuturesavings.Ifyouwanttocalculateyourreturns,youwouldthentakethatmultipliedinitialinvestmentandsubtracttheinitialinvestmenttogettheabsolutenominalreturn. DailyCompoundingExample Ifyouhavea1%dailyreturnona$100initialinvestment,howmuchwouldyouhaveattheendofoneyear&attheendoftwoyears? Mostpeoplewouldsay$465and$830,addingadollarperdaytotheinitialinvestment.Howeverthatviewmissesthecompoundingaspectofinterest,whichgrowsthemoneymuchfaster. Ratherthangrowingat365%peryear,1%perdaywouldcompoundat3678%inayear,puttingtheendingbalanceat$3,778afteroneyearand$142,758.79attheendofthesecondyear. InterestonDebtvsSavings Ofcourseearning1%perdayisexceptionallyhardtoachieve,butmanypeoplewhotakeoutshorttermunsecuredloansmaybechargedsimilarratesofinterestwithoutbeingawareofthetruecost.Apersonwhogetsapaydayloanandrollsitoverafewtimescanpayusuriousinterestratesquicklyrunningintothehundredsorthousandsofpercentafteraccountingforvariousfeesandpenalties. TheseexploitativerateshaveledtothenumberofpaydayloanoperationsintheUnitedStatesexplodingmorethan100-foldoverthepast20years.What'smore,manyofthepaydaylendersarefinancedbysomeofthebigbanks. What'smore,outsideofmortgagesmostpersonaldebtinteresttypicallycan'tbewroteoffagainstincometaxes,whichmeanspeoplecarryingpersonaldebtneedanexceptionallyhighrateofreturntobeatthereturnsofferedbyextinguishingtheirdebts.