Here is the formula of Compound Interest:
| Input | Description |
|---|---|
| Amount | It is an amount on which you want to take simple interest |
| Expected rate of return | This is the percentage return per year at which you want to invest your money |
| Frequency type of time duration | It is the compounding frequency of times per year the total interest is paid |
| Time Duration | It can be number of years, number of months or number of days depending upon the frequency type |
| Output | Description |
|---|---|
| Amount | It is an amount on which you want to take simple interest |
| Compound interest | This is the simple interest on the amount you will have by the end of invetment years which is calculated compoundly |
| Amount after Interest Gained | This is the total amount you will receive which is sum of your total amount invested and the simple interest you will gain |