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

08102022, 01:00 AM
(This post was last modified: 08102022, 01:01 AM by Dom.)
Calculate interest over years? (08092022, 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.
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.
(08102022, 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.
08102022, 03:53 AM
(This post was last modified: 08102022, 03:55 AM by rocinantexyz.
Edit Reason: spelling
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Calculate interest over years?
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.
Here is how to to do it in Excel.
The example above is compounded monthly. The mortgage company compounds interest daily.
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08102022, 11:25 PM
(This post was last modified: 08102022, 11:29 PM by Bucky Ball.)
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
08112022, 05:13 AM
(This post was last modified: 08112022, 05:14 AM by rocinantexyz.)
Calculate interest over years? (08102022, 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.
This isn't contractual, so numbers would be "best guess". It's just an arguing point with the landlords.

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