Compound Interest Calculator

Compound Interest Calculator is an Excel spreadsheet that can help you calculate the compound interest for a deposit or for a loan based on a few customizable parameters.

The term of compound interest is a financial concept used by banks to calculate the money they owe you for a savings deposit or the amount of money you owe them for a loan.

The formula used for performing this type of calculation is rather complex and tedious to be carried out by hand. It is best to use a third-party application that can accurately estimate the compound interest than wasting time doing so yourself.

Compound Interest Calculator comes in the form of an out-of-the-box Excel spreadsheet that can be launched with Office or any other application that supports the XLS format.

Usage is extremely simple, as it all comes down to filling a few mandatory fields such as investment amount (or loan), interest rate per year (as specified by your bank), the period (in years), as well as the compound period: daily, weekly, quarterly, semi-annually or annually.

As soon as you’ve specified all of these, the spreadsheet’s engine starts calculating the results, including the future investment value (or loan), the total interest and the total compounded rate. Any modification you make to one of the input parameters will be immediately reflected in the output results.

Compound Interest Calculator does a good job despite being so simple. It would have been great if the values had been gathered inside a graph, so as to better assess the evolution of an investment or loan.