About Interest Calculations
- • Simple vs Compound: Choose between simple interest (calculated only on principal) or compound interest (earning interest on interest)
- • Compounding frequencies: Select from daily, monthly, quarterly, semi-annually, annually, hourly, or continuous compounding to match your investment or loan terms
- • Flexible input: Enter your interest rate in any time period (annual, monthly, weekly, daily, or hourly)
- • Multiple breakdowns: See your interest gains across all time periods simultaneously
- • Effective annual rate: The calculator converts your input to an effective annual rate for comparison
- • Investment planning: Useful for understanding potential returns on investments or costs of loans
- • Compound interest power: More frequent compounding yields higher returns - most South African banks accrue interest daily
- • Time value visualization: Helps you understand how interest accumulates over different periods
- • For informational purposes only - consult a financial advisor for personalized investment advice