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how to calculate compound interest per month. Free investment calculator to evaluate various investment situations and find out corresponding schedules while considering starting and ending balance additional contributions return rate or investment length. A d 1 r n n p a the amount of money you will have at the end of the deposit period d your initial deposit r the annual interest rate expressed as a decimal.
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To calculate the monthly interest on 2000 multiply that number by the total amount. The formula for calculating simple interest is P x R x T principal x interest rate x time. Note that you use a monthly interest rate 5 12 months and you adjust the number of periods to 60 months.
FV 5000 1 005 3 FV 5000 115 5750.
Due to being compounded monthly the number of periods for one year would be 12 and the rate would be 1 per month. Putting these variables into the compound interest formula would show. 00083 x 2000 1660 per month. 20950 198 1150 Comment There is a simple technique to.
