Free Compound Interest Calculator Specifications
Calculate the compound interest or regular interest.
No matter you want to deposit your money or you have already done it, you will need a great application that can calculate your interest. Free Math Calculator has developed a desktop application named Free Compound Interest Calculator and its job is to show all information about interests. As its name says its job is to calculate the compound interest but alternatively it calculates regular interest. Compound interest arises when interest is added to the principal of a deposit or loan, so that, from that moment on, the interest that has been added also earns interest. A bank account, for example, may have its interest compounded every year: in this case, an account with $1000 initial principal and 20% interest per year would have a balance of $1200 at the end of the first year, $1440 at the end of the second year, and so on. The app calculates such info and shows them on the graph with different colors for each parameter so that you can understand them better and compare the results. You can specify number of years for deposit plan and see how much you earn at the end of each year. Also, you can specify the time period for the main deposit and the compound deposit. The interest rate can be set as a percent amount and this allows you to calculate all you bank accounts' interests with different rates. Some key features of Free Compound Interest Calculator are: Compound and regular interest calculation. Graphical result window for better understanding. Two alternative deposit plans. Simple and easy to use.
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