What is Compound Interest?
Compound interest is interest calculated on the original principal and also on the accumulated interest of previous periods of a deposit or loan. Compound interest can be thought of as “interest on interest,” and will make a deposit(earned by you) or loan(paid by you) grow at a faster rate than simple interest, which is interest calculated only on the principal amount. Never underestimate the power of Interest! It can be your best friend or worst enemy. Compound interest works for Stocks but always note in your calculations market losses can slow compound interest growth projected. Safer investments have a lower but consistent rate of return. These include Bonds and Fixed Deposits - Certificate of Deposits. You might be okay with more moderate but steady compound interest rather than incur losses.
The app is an Educative and Financial App that not only calculates but also has Simple Sentences to explain each compound interest calculations.
App Features Include
- Future Amount Calculator with Ability to Add or Remove Contributions to see Effects Contributions, APY, APR, Simple Interest to show the difference, Custom Compounding, Maturity Date Handling and Maturity Date Event Reminder to save. Calculation display has calculation result along with significant, critical insights useful for Investment and Loan Decisions. Reset all values. Double tap anywhere in the background to reset all values to zero.
- Target Annual Rate APY Calculator with all of the above, the same uniform interface on a separate screen just a different calculation to research the APY %
- Loan Cost Calculator with loan calculations so you can instantly see what if you wanted a mortgage or car loan or if you have cash if its worth to take a loan.
Sales has been in the following countries since Feb'1 2010
USA and Canada
Africa, The Middle East, and India
Latin America and The Caribbean
Universal App for both iPhone and iPad.
Designed and developed by Rohit Sachdeva @rsachdeva - the product of @drinnovationsus.
Market Warning As part of Instructions to Alert Our Customers Making Financial Decisions for both Investments and Loans - Compound Interest is Affected by these Market Changes.