Finding FD

Invested for | Years: 1 Months: 0 Days: 0 |

Rate | 5% per annum |

Principal | 1,000.00 |

Interest | 50.95 |

Amount | 1,050.95 |

Effective Yield | 5.09% |

Invested for | Years: 1 Months: 0 Days: 0 |

Rate | 5% per annum |

Principal | 1,000.00 |

Interest | 50.00 |

Amount | 1,050.00 |

Effective Yield | 5.00% |

Invested for | Years: 1 Months: 0 Days: 0 |

Rate | 5% per annum |

Principal | 1,000.00 |

Interest | 50.63 |

Amount | 1,050.63 |

Effective Yield | 5.06% |

Invested for | Years: 1 Months: 0 Days: 0 |

Rate | 5% per annum |

Principal | 1,000.00 |

Interest | 50.95 |

Amount | 1,050.95 |

Effective Yield | 5.09% |

Invested for | Years: 1 Months: 0 Days: 0 |

Rate | 5% per annum |

Principal | 1,000.00 |

Interest | 51.16 |

Amount | 1,051.16 |

Effective Yield | 5.12% |

Fixed Deposit is a financial instrument provided by banks that provides relatively higher return than savings account.

Formula

A = P(1 + r/n)^{nt}

CI = A - P

Where,

CI = Compound Interest

A = Amount

P = Principal

r = Interest rate

n = Number of times interest is applied per time period

t = Number of time period

ADVERTISEMENT