Calculate interest over years?

[Gawdzilla Sama]

Any good apps/sites/etc.?

[Dom]

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.

[Gawdzilla Sama]

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.

[Dom]

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.

[Gawdzilla Sama]

I want to compound the interest.

[rocinantexyz]

from: Wikipedia/Compound Interest/Continuous Compounding




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.

[PopeyesPappy]

Here is how to to do it in Excel.



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

[Bucky Ball]

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.

[Gawdzilla Sama]

Did I mention I suck at math?

[rocinantexyz]

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.

[Gawdzilla Sama]

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