Interest calculator

What it does
Interest calculator
Works out how much you accumulate if you save a little each week or each month. The results are automatically displayed in a table, which is recalculated each time a setting is changed.

How to use it
When Interest calculator is first opened, you are presented with a choice of three settings:
- whether you plan to save weekly or monthly;
- how much you can set aside each time;
- the interest rate (%).

1. Because the calculator works for any currency, no money units are shown.
2. It is assumed that the contributed amount is paid into the current sometime during the (weekly or monthly) period and interest is errant on that amount starting from the beginning of the next period.
3. Compound interest is calculated and paid into the account at the end of each period. Simple interest is, in effect, calculated and paid once only, taking into consideration how many complete (weekly or monthly) periods each contributed amount has been in the account.

Watch a movie showing this applet in action:
Interest Calculator

Run the applet
Interest calculator

Screenshot of Interest calculator

Stacks Image 33