Compound interest

[Aprillove]

Does anyone know the formula for calculating compound interest?
Thanks

[factor-fiction]

If interest rate is r% a year and your capital is C then after n years your capital will have increased to
C{(100+r)/100]^n

Try this http://en.wikipedia.org/wiki/Compound_interest

or this http://realestate.about.com/od/knowthemath/ht/ howcompint.htm

[factor-fiction]

Hope the above helped.

Via this link is a calculator tool- enter teh capital and interest details and it works out the compound interest and resultant capital value
http://www.moneychimp.com/calculator/compound_ interest_calculator.htm

[Zax47]

Interest I=CxRxT/100, where C is the capital, R is the % interest rate and T is time in years.

So �100 at 5% for 10 years will attract total Interest of (100 x 5 x10)/100 = �50 over the 10 year period.

[factor-fiction]

That's imple interest Zax. After year 1 you'll have 105 after year 2 you'll have �110.25 not �110 and so on- assuming you keep interest in the account

[factor-fiction]

That's simple interest Zax. After year 1 you'll have 105 after year 2 you'll have �110.25 not �110 and so on- assuming you keep interest in the account

[factor-fiction]

And after 10 years @5% the �100 would be worth �162.89 rather than �150

Calculation= 100 x [(1.05)^10] = 162.89