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Frequently Asked Questions
Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. Formula: A = P × (1 + r/n)^(n×t), where P = principal, r = annual rate, n = compounding frequency per year, t = time in years.
Simple interest is calculated only on the principal: SI = P × r × t. Compound interest is calculated on principal plus accumulated interest, so it grows faster. Over long periods, the difference is significant — this is the "power of compounding".
CodBolt's CI calculator supports four frequencies: Yearly (n=1), Half-yearly (n=2), Quarterly (n=4), and Monthly (n=12). More frequent compounding means slightly higher returns.
A = P × (1 + r/n)^(n×t). CI = A − P. Where: A = maturity amount, P = principal, r = annual interest rate (decimal), n = number of times interest compounds per year, t = time in years.
With monthly compounding, interest is added 12 times a year — each month's interest itself earns interest in the next month. The more frequently interest compounds, the higher the final amount, though the difference reduces as frequency increases.
Yes, CodBolt's Compound Interest Calculator is completely free — no signup, no ads. Enter principal, rate, time, and compounding frequency to get instant results with year-wise breakdown.