Interest Calculator

Interest Calculator

Basically, interest is a fee that is charged for money that is borrowed. This also applies to money that you put away in your savings account because this essentially involves you lending your money to the bank. The bank pays you interest for the money. Interest calculators are helpful in determining the interest amounts as well as the final balances. The calculators calculate the interest on both the fixed principal and the additional periodic contributions too. Calculating the Interest A rate (expressed as a percentage), called the interest rate, is…

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