I am glad I found the best compound interest calculator online. I installed the compound interest calculator in my HP laptop last month. Until now, this calculator is the one I am always using whenever I want to know the future worth of an investment whether the money was invested per month or lump sum.
I am happy with this compound interest calculator. It has many beautiful features. I found the calculator form FreeMatchCalculator.com
Update: You can use compound interest calculator online without installing a software or app in your device. Just visit the official website of Investor.Gov. Find the tools, calculators and finally choose compound interest calculator.
This compound interest calculator isn’t an ordinary calculator wherein you will only know the interest of your investment. The calculator has an option if you want to change your strategy.
Alternative Strategy in Compound Interest Calculator
In the alternative strategy, you are allowed to change regular deposit, change compound frequency and decide when you want to start (Start Later Option).
In the results, it shows what strategy you are using. It shows the initial deposits, regular deposits, total interest and total savings. Your total savings is the sum for total deposits and total interest.
Compound Interest Calculator Example Data
If you invest $100 per month that earns 8% per annum within 10 years. Your one hundred dollar per month investment will turn into $17,384. How? It is because the effect of compound interest why your investments grow that much.
Lesson: Time and compound interest is your best financial ally. The more time you have. The longer you invest your money. The more chances you will enjoy the compound interest effect.
Now you know which compound interest calculator I personally use. What about you? Do you know any other calculator with the same features? Leave a comment below!
I love Compound Interest, this blog reminds me that I can easily achieve my retirement target earning asset. If you liked this post, kindly share this with your friends.