![]() You can learn more aboutĮffective annual interest rates in our article here. The more times the interest is compounded within the year, the higher the effective annual rate will be. When compounding of interest takes place, the effective annual rate becomes higher The effective annual rate is the rate that actually gets paid after all of the compounding. In addition to this savings calculator, we haveĪ useful calculator for compound interest, should You to enter negative interest rates, should you wish to. It's also worth noting that our savings calculator also allows ![]() If you want to know the compound interval for your savings account or investment, you should be able to find out by speaking to yourīank or financial institution. It uses the compound interest formula, giving options forĭaily, weekly, monthly, quarterly, half-yearly and yearly compounding. Use our savings calculator to project the growth and future value of your savings or investment over time.
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