Transum Software

Compound Interest Calculator

A customised online calculator for quickly finding the solutions to compound interest problems.

Compound Interest Calculator Online Exercise Exam-Style More Calculator Activities
Present Value (PV):
Currency:
Number of years (n):
Interest rate (r):%
Compounding periods (k):%
Future Value (FV):
Interest (I):

Compound interest can be calculated by using the following formula to calculate the final amount or future value (FV)

$$FV = PV(1 + \frac{r}{100})^n $$

\(PV\) is the present value.

\(n\) is the number of years.

\(r\) is the rate of interest.

or by using the iterative function

$$x_{n+1} = x_n + \frac{x_n \times r}{100} $$

where \(x_0\) is the present value [See Calculator Workout Skill 16]

$$FV = PV(1 + \frac{r}{100k})^{kn} $$

\(PV\) is the present value.

\(n\) is the number of years.

\(r\) is the rate of interest.

\(k\) is the number of compounding periods per year.

Advanced feature:

Transum.org

This web site contains over a thousand free mathematical activities for teachers and pupils. Click here to go to the main page which links to all of the resources available.

Please contact me if you have any suggestions or questions.

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Mathematicians are not the people who find Maths easy; they are the people who enjoy how mystifying, puzzling and hard it is. Are you a mathematician?

Comment recorded on the 12 July 'Starter of the Day' page by Miss J Key, Farlingaye High School, Suffolk:

"Thanks very much for this one. We developed it into a whole lesson and I borrowed some hats from the drama department to add to the fun!"

Comment recorded on the 1 May 'Starter of the Day' page by Phil Anthony, Head of Maths, Stourport High School:

"What a brilliant website. We have just started to use the 'starter-of-the-day' in our yr9 lessons to try them out before we change from a high school to a secondary school in September. This is one of the best resources on-line we have found. The kids and staff love it. Well done an thank you very much for making my maths lessons more interesting and fun."

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"Numeracy is a proficiency which is developed mainly in Mathematics but also in other subjects. It is more than an ability to do basic arithmetic. It involves developing confidence and competence with numbers and measures. It requires understanding of the number system, a repertoire of mathematical techniques, and an inclination and ability to solve quantitative or spatial problems in a range of contexts. Numeracy also demands understanding of the ways in which data are gathered by counting and measuring, and presented in graphs, diagrams, charts and tables."

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Go Maths

Learning and understanding Mathematics, at every level, requires learner engagement. Mathematics is not a spectator sport. Sometimes traditional teaching fails to actively involve students. One way to address the problem is through the use of interactive activities and this web site provides many of those. The Go Maths main page links to more activities designed for students in upper Secondary/High school.

Teachers

If you found this activity useful don't forget to record it in your scheme of work or learning management system. The short URL, ready to be copied and pasted, is as follows:

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