Calculate investment growth and earnings using compound interest.
Compound interest is interest calculated on the initial principal and also on the accumulated interest over previous periods. It helps your investment grow faster compared to simple interest.
Compound interest depends on principal amount, rate, time and compounding frequency.
A = P (1 + r/n)^(n × t)
If you invest ₹10,000 at 8% interest for 5 years compounded yearly, your total amount will grow significantly.