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Calculate interest over years?
#1

Calculate interest over years?
Any good apps/sites/etc.?
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#2

Calculate interest over years?
(08-09-2022, 11:37 PM)Gawdzilla Sama Wrote: Any good apps/sites/etc.?

You didn't specify, but since you just bought a home I assume it's about that.

Loan Calculator

Other calculators are on the same site.
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#3

Calculate interest over years?
Actually we had to deposit $1,300.00 security when we moved in 9 years ago. The landlord is ignoring the interest they accrued over nearly a decade. I need to have an approximate figure for the interest they profited from that deposit.
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#4

Calculate interest over years?
(08-10-2022, 01:04 AM)Gawdzilla Sama Wrote: Actually we had to deposit $1,300.00 security when we moved in 9 years ago. The landlord is ignoring the interest they accrued over nearly a decade. I need to have an approximate figure for the interest they profited from that deposit.

You should find a way to do that on that site.
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#5

Calculate interest over years?
I want to compound the interest.
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#6

Calculate interest over years?
from: Wikipedia/Compound Interest/Continuous Compounding


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P(t) is the total value at the end of the period. P(t)=?, but it is the answer to your question.
P₀ is the initial principle. P₀ = 1,300
e is Euler's number, use:  e = 2.71828
t is time, in years. t = 9
r is the APR of the "loan". r = ?, this you need to fill in. Some examples:

5% APR (r = 0.05) ---> P(9) ≈ $2,039
25% APR (r = 0.25) -> P(9) ≈ $12,334

You should seek legal advice before charging someone interest in any form.
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#7

Calculate interest over years?
Here is how to to do it in Excel.

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The example above is compounded monthly. The mortgage company compounds interest daily.
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#8

Calculate interest over years?
In Excel you also could use the ^ function.
For example : 2x2x2x2x2 gets the same result as 2^5.

So for 6 years of 6 % interest, you would have 1.06^6 then multiply the result by your principal amount to get your total.
Test
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#9

Calculate interest over years?
Did I mention I suck at math?
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#10

Calculate interest over years?
(08-10-2022, 11:45 PM)Gawdzilla Sama Wrote: Did I mention I suck at  math?
Oh sorry. Uh you need to tell us 2 things for us to give you an answer that is just a number (dollar value):

The interest rate per year (APR). Some examples of an answer: the current the "risk free rate" is about 2.6%, credit cards often charge 25% or more. This value dramatically impacts the result.

The compounding period. Some examples of an answer: compounded yearly, compounded monthly, compounded daily, compounded an infinite number of times (continuously compounded). This value doesn't dramatically impact the result, it might alter the result by a few dollars.
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#11

Calculate interest over years?
This isn't contractual, so numbers would be "best guess". It's just an arguing point with the landlords.
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