Calculate compound interest on an investment or savings. This golang program allows the user to enter the principal amount totals years and interest rates and then find the Compound Interest. In this maths video I will relatively quickly calculate the compound interest of an amount.
Calculate compound interest on an investment or savings.
You figure simple interest on the principal which is the amount of money borrowed or on deposit using a basic formula. If you deposit 1000 in a bank account which is paying 3 compound interest per year. It is the difference between amount and principal. To calculate the amount of simple interest over 5 years you simply multiply the interest earnt in year one by five - 125 5 625.