Interest Calculator Excel Download

Excel Template for Interest Calculator Leave a reply This calculator will help enter your savings rate, the savings period and the interest rate, and Excel will calculate your net savings after the saving period.

From Media Freeware:

No matter you want to deposit your money or you have already done it, you will need a great application that can calculate your interest. Free Math Calculator has developed a desktop application named Free Compound Interest Calculator and its job is to show all information about interests. As its name says its job is to calculate the compound interest but alternatively it calculates regular interest. Compound interest arises when interest is added to the principal of a deposit or loan, so that, from that moment on, the interest that has been added also earns interest. A bank account, for example, may have its interest compounded every year: in this case, an account with $1000 initial principal and 20% interest per year would have a balance of $1200 at the end of the first year, $1440 at the end of the second year, and so on. The app calculates such info and shows them on the graph with different colors for each parameter so that you can understand them better and compare the results. You can specify number of years for deposit plan and see how much you earn at the end of each year. Also, you can specify the time period for the main deposit and the compound deposit. The interest rate can be set as a percent amount and this allows you to calculate all you bank accounts' interests with different rates. Some key features of Free Compound Interest Calculator are: Compound and regular interest calculation. Graphical result window for better understanding. Two alternative deposit plans. Simple and easy to use.

What do you need to know about free software?

What's compound interest and what's the formula for compound interest in Excel? This example gives you the answers to these questions.

1. Assume you put $100 into a bank. How much will your investment be worth after one year at an annual interest rate of 8%? The answer is $108.

2. Now this interest ($8) will also earn interest (compound interest) next year. How much will your investment be worth after two years at an annual interest rate of 8%? The answer is $116.64.

3. How much will your investment be worth after 5 years? Simply drag the formula down to cell A6.

The answer is $146.93.

4. All we did was multiplying 100 by 1.08, 5 times. So we can also directly calculate the value of the investment after 5 years.

which is the same as:

Excel Interest Calculator Template Download

Note: there is no special function for compound interest in Excel. However, you can easily create a compound interest calculator to compare different rates and different durations.

Bank Interest Calculator Excel Download

5. Assume you put $10,000 into a bank. How much will your investment be worth after 10 years at an annual interest rate of 5% compounded monthly? The answer is $16,470.

6. Assume you put $10,000 into a bank. How much will your investment be worth after 15 years at an annual interest rate of 4% compounded quarterly? The answer is $18,167.