Interest Calculator
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About Interest Calculator
This calculator compares simple and compound interest. Simple interest is calculated only on the original amount, while compound interest is calculated on the amount including previously accrued interest.
Simple interest: Interest = P × r × t
Compound interest: Interest = P × (1 + r/n)^(n×t) - P
Where P = principal amount, r = interest rate, t = time, n = compounding frequency (12 = monthly)