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how to calculate compound interest quickly. Compound interest is one of the most important concepts to understand in investing. You only need to know how much your principal balance is the interest rate the number of times your interest will be compounded over each time period and the total number of time periods.
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Compound interest is the total amount of interest earned over a period of time taking into account both the interest on the money you invest this is called simple interest and the interest earned or charged on the interest youve previously earned. The compound interest formula solves for the future value of the investment. You can use the formula listed above to calculate it by hand or you can use the compound interest calculator to figure out your total more quickly.
FV PV x 1 rate Wait a minute.
Just be sure you know the necessary variables. The compound interest formula solves for the future value of the investment. To calculate interest multiply the principal by the interest rate and the term of the loan. The Rule of 72 is another way to make estimates about compound interest quickly.
