A simple formula can be used to calculate the amount the dollar invested is worth over a monthly period. Use PV*(1+R)/N where PV is your present investment, R is your interest rate and N is the number of investment periods.
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A compound interest calculator is used for determining how much your invested money can make you in it's lifetime of being invested. This is useful in telling you how much a certain amount of money will make you when it matures.
Nominal interest, is the amount of interest on a loan or investment that does not take into account inflation; it's the amount of interest listed on the loan or bond.
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When each interest calculation uses the initial amount, this is called Simple Interest. The other type is Compound Interest, which uses the current balance as the basis for interest calculation.
it affects the result of your investment excercise by changing the percentage yearly! PS: Your working on your Personal Management Merit badge for trail to Eagle right?