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Interest Calculator

Calculate your Credit card or loan interest as well as your compounding interest

 

Tthere is a phenomenon in money management that makes it seem as though money is growing on trees. This phenomenon take patience. But it pays off in the long-term.

It's called the "magic of compounding". Compounding can work for or against you. Take for example a credit card loan. Use the Loans Calculator below. Try $20,000 with your typical bank interest (between 20-25%), and see how long and how much it takes to pay up your loan:

 

LOAN INTEREST
Enter your loan balance: $
Enter the bank's interest rate: %
Enter payment amount per month: $
or 
Enter desired months until debt free:
 

 

 

 

Shocking isn't it? Then use the below Compound Interest Calculator and try with a $20,000 deposit at an interest rate of 6% for 12 years. Your principal amount will double! It's called the rule of 72.

 

COMPOUND INTEREST
Principal Amount: $
Interest Rate: %
Years:
Total Amount: $
Interest earned: $

 

 

Today's Bottom Line

Compounding is a financial tool that helps us manage resources responsibly as stewards.

 


 

 

 
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