Compound Interest Calculator
Compound Interest Calculator Explained:
(a) What is this? This calculators shows how much you are paying in interest and in total on a compound interest loan.
(b) What does this tell me? What amount of money you will have to repay in total for your loan and the total amount of interest.
(c) Why should I use it? So you can determine how much you will have to pay in interest, in total and per month for any loan you are considering.
(d) Caution: This model presumes monthly compounding interest. The calculator does not necessarily tell you precisely what you will be paying. Different lenders may include other costs not visible to you. As a result the true cost, and the monthly costs detailed here may not be accurate. Talk to you accountant or trusted financial advisor about any loans you are considering. You use this calculator at your risk.