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COMPOUND INTEREST CUMULATIVE AMOUNT


Rs. 1 K is paid every month for 36 months.
Compounding interest rate is 10% anum right from start.
What is the acumulated amount at the end of 36th month?

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After 3 years u wil get rs 43692..

Posted on Sep 05, 2008

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1 Answer

If I know how much the payment is and the length of the loan how can I calculate the percentage I am paying?


A=P((1-(1+r)^(-n))/r, where A is the present value of the annuity, or the amount of the loan, P is the periodic payment, r is the interest rate per period, and n is the number of periods. In this case, I assume the payments are monthly, so n would be 36. You mentioned that you already have A and P. However, solving for r algebraically is not that easy because it is in two places on the right hand side. However, you can make a table and put in interest rates to make both sides equal. Remember to multiply this answer by 12 to get the annual interest rate.

For example, if the payment is $100, and the amount of the loan is $2,766.07, and the number of periods is 36, what is the interest rate.

r Calculate Actual Difference
0.010 3010.75 2766.07 -244.68
0.011 2959.42 2766.07 -193.35
0.012 2909.33 2766.07 -143.26
0.013 2860.42 2766.07 -94.35
0.014 2812.68 2766.07 -46.61
0.015 2766.07 2766.07 0.00
0.016 2720.55 2766.07 45.52
0.017 2676.11 2766.07 89.96

You can see from the chart that the value of r of 0.015 makes the difference 0, so the periodic interest rate is 0.015 or 1.5%. We need to annualize this by multiplying by 12 and we get an annual interest rate of 18%.

Good luck,

Paul






Annuity Payment PV

Aug 15, 2016 | Office Equipment & Supplies

1 Answer

How much is intereston 1 varable 2 fixed rate


interest is interest
fixed is calculated yearly on the principle and is paid 365 days time
variable changes and is calculated daily ( 1/365 part of the interest rate ) and added to the remaining principle monthly
so if you have a loan of $1000.00 on fixed interest of 10% , regardless of how much you have repaid in a 12 month period , it is 10% of the principle loaned
with a variable interest the interest rate could be 10% today, 15% in 2 months time or 6% later on
it is variable
to add to that it is calculated on a daily basis (1/365 of 10%) and added to the principle left after receiving a payment on the loan
so for a $1000.00 the interest is added to that principle at the end of the month if there is no loan repayment or is added to the principle balance after a payment
the difference is that a variable interest rate loan will allow you to save money if you pay off well before the period of the loan but will add almost 2 to 3 times the loan if you pay the absolute minimum for the period of the loan
a fixed rate is where you know exactly the total interest to be paid at the end of term

May 09, 2016 | Computers & Internet

1 Answer

How do you calculate and charge interest on outstanding accounts


That question is much more complicated than you think - are you charging interest percentage daily? Weekly? Monthly? Anually? Once you have the period figured, you begin at some start point of your choosing. Exactly one "period" later, you multiply the basis (the outstanding balance) by the percentage rate (5%, for example, would mean you multiply by 0.05), then add that number to the basis - that's your new basis, your new outstanding balance.

But... if you charge an annual interest rate, and you compound daily or weekly or monthly, you have to take payments into account and adjust for them - it's fair to charge interest up to the moment of payment, but not beyond that moment; you can rightly only charge interest on the remaining unpaid balance beyond that date.

If you charge an annual interest rate but compound monthly, then every month you'd charge 1/12 of your annual interest rate. If weekly, 1/52. If daily, 1/365. The smaller the compounding period, the easier it is to calculate interest around payments, but the more paperwork is involved.

Jul 14, 2014 | Office Equipment & Supplies

1 Answer

45,000 to invest.want to have 250,000 in 20 years. what rate of interest do i need if its compounding monthly?


4 5 0 0 0 +/- PV (investment amount, negative because you're paying it out)
2 5 0 0 0 0 FV (desired amount, positive because you're receiving it)
2 0 SHIFT xP/YR (20 years)
I/YR (calculate annual interest rate)

Jan 23, 2011 | HP 10bII Calculator

1 Answer

What buttons do I push in what order to figure compound interset. if I start with$15,000.00 at 6% interset for 25 years. I am on a texas instrument ba 2 plus


If the interest is compounded monthly:

2nd [CLR TVM] (clear any existing results)
1 5 0 0 0 _/- PV (present value, negative because you're paying it out)
6 I/Y (annual interest rate)
25 2nd [*P/Y] N (25 years)
CPT FV (compute future value, see 66,974.55)

If the interest is compounded annually:

2nd [CLR TVM] (clear any existing results)
1 5 0 0 0 _/- PV (present value, negative because you're paying it out)
6 I/Y (annual interest rate)
2nd [P/Y] 1 ENTER 2nd [QUIT] (one compounding period per year)
25 N (25 years)
CPT FV (compute future value, see 64,378.96)

Oct 26, 2010 | Texas Instruments BA-II Plus Calculator

1 Answer

Need a formulae for 'Interest calculation' for 'Over-draft loan'


Try this formula=((A1)*(1+A2))-A3 Where: A1 is the original Balance A2 is the interest rate A3 is the money paid for the preceding month

Apr 02, 2009 | Microsoft Excel for PC

2 Answers

How is interest calculated on recurring deposit accounts in banks


Recurring deposit interest is calculation may vary depends on compounding period. You have to invest an amount every month interest will be calculated for the current holding in your recurring deposit account. And every compounding period interest amount will be added into holdings or available balance. You can calculate the Recurring deposit using this recurring deposit calculator

Mar 26, 2009 | Computers & Internet

4 Answers

I want the excel compound interest formula


=10000*(1+0.96)^12
=10000*(1+0.10)^18
=10000*(1+0.10)^24

Dec 02, 2008 | Microsoft Office Professional 2007 Full...

1 Answer

Need your help


Try the FV function Syntax
FV(rate,nper,pmt,pv,type)

Nov 03, 2007 | Computers & Internet

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