= 8323 Compound interest = A – P = 8323 – 8000 = Rs 323 Q2 The price of an anti-tarnish ring is Rs. 1400 and it is reducing by 8% per month. Find its price after 3 months. Solution: Using the ...

When using our compound interest calculator, you'll want to use the key components we talked about earlier: principal amount, interest rate, compounding frequency, time period, and, optionally ...

Different banks add—or compound—interest at different rates, known as the compounding frequency. Many banks compound interest daily, but some compound it weekly, monthly or even quarterly.

The small business will make $9.40 in interest. If computing simple interest, the formula would be $100 times 1.5 years times 6 percent, which equals $9 of interest earned.