Interest Calculator

Calculate interest for loans, investments, and savings accounts. This calculator supports both simple and compound interest calculations with various compounding frequencies.

How to use:

1. Choose between Simple or Compound interest
2. Enter the principal amount
3. Enter the interest rate
4. Specify the time period
5. For compound interest, select the compounding frequency
6. Click "Calculate" to see the results

Formulas Used:

• Simple Interest: A = P(1 + rt)
• Compound Interest: A = P(1 + r/n)^(nt)

Where:

• A = Final amount
• P = Principal amount
• r = Interest rate (decimal)
• t = Time (years)
• n = Number of times interest is compounded per year