the calculations are a bit more complicated than the basic interest rate. The formula for calculating compound interest is A = P(1 + r/n)^nt. A is the amount of money you'll wind up with.

Interest A-P is the formula used to determine interest paid on a loan. A: Total sum paid. P: Principal amount. R: Interest rate. T: Number of years. N: Number of times interest is compounded annually.

Potential borrowers must evaluate different lender offers since loan interest rates differ. The following formula is used by a basic interest calculator to determine the loan amount: P (1+RT ...