When you deposit
at an annual interest rate of
For a period of
years
Normal Interest for years(interest only) will be
and after years, You will get an amount of (pricipal+interest)
When calculated with compounding, Interest for years will be
Number of times interest is calculated a year(usually 1)
When you deposit, 0 every year, for a period of 0 Years, at a rate of 0 , following are your options
When you deposit an amount every year, for 5 years from year 2020, interest is calculated like, amount is deposited for 5 years(2020-2025), 4 years(2021-2025), 3 years(2022-2025), 2 years (2023-2025) and 1 year(2024-2025). At the end of year 2025, you will get the total amount.
Savings Accounts usually have very low interest rates( 3-5%).
In years, you saved only For that, you will get an interest of
Your total savings after 0 years will be 00
Long term deposits have higher interest rates. Banks and other financial institutions offer 6-12% interest for long term deposits.
In years, you saved only - Its compound interest will add up to