Now it’s your turn. Use this special calculator to experience the power of compound interest. Your coaches tell you how to get started.
Now, let’s try this Hands on Banking calculator to calculate how much you will earn at different interest rates.
You’ll see that you have a few blanks you need to fill in: the amount of your initial deposit or investment (the principal), how much money you’ll continue to save or invest each year, the number of years, and the annual interest rate.
Once you’ve filled in these blanks with your sample numbers, just click Calculate. Then, to try another example, enter in new numbers and click Calculate once more.
We hope you’ll enjoy learning about the power of compound interest by trying this interest calculator for yourself.
You can use the Hands on Banking calculator at any time. Just click on Tools, and then choose Value of an investment calculator.
When you’re finished, click Next.