Our Interest Calculator is designed to be intuitive and easy to use. Here's a step-by-step guide:
Enter the name of your income or expense source in the 'Source' field. This could be the name of your savings account, credit card, or loan.
In the 'Principal' field, enter the initial amount of money you have in your savings account or the amount of debt you owe.
Next, enter the annual interest rate (as a percentage) in the 'Rate' field.
Select the type of source from the 'Type' dropdown menu. Choose 'Saving' for income sources and 'Spending' for expenses.
Click the 'Add' button to add the source to the table. You can add multiple sources to track different incomes and expenses.
Once you've added your sources, click the 'Start' button to start calculating interest. The table will update every second to show the accumulated interest for each source.
If you want to pause the calculation, click the 'Stop' button. You can resume the calculation by clicking 'Start' again.
To edit a source, click the pencil icon in the 'Actions' column. You can edit the source name, principal amount, annual interest rate, and type directly in the table. Click the pencil icon again to save your changes.
If you want to remove a source, click the 'X' icon in the 'Actions' column.
You can also fast-forward the interest calculation by 30 days or 1 year using the 'Fast Forward 30 Days' and 'Fast Forward 1 Year' buttons.
If you want to hide the principal amounts in the table, check the 'Hide Principal' checkbox. The principal amounts will be replaced with bullets.
That's it! You're now ready to harness the power of compound interest with our Interest Calculator.
Disclaimer: This website provides a free interest calculator tool for informational purposes only. The calculations provided are based on the input values provided by the user and are not guaranteed to be accurate or reliable. The results should not be considered as financial advice or recommendations. Users are solely responsible for verifying the accuracy and suitability of the calculations for their specific financial situation. The website owner and developers do not assume any liability for the use or misuse of the information provided on this website.
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