Formula for compound interest
The future value of the investment (including Principal):
A = P(1 + r/n)(nt)
Total Compounded Interest:
C = P(1 + r/n)(nt) - P
Effective Annual Rate:
i = (1 + r/n)n - 1
A = The future value of the investment
P = The principal investment amount
R = Annual Nominal Interest Rate in percent. In the formula, r = R/100.
n = The compound interval (the number of compounding periods per year)
t = Investment Period (years)
C = Total compounded interest
I = Effective Annual Rate. In the formula, i = I/100
When should you use Compound interest calculator?
Compound interest calculator was intentionally built for those, who wish to anticipate their best investment options, but it’s an irreplaceable tool to: banks, finance & investment consultants, family offices and to all financial service businesses. This tool becomes a saver, if you/your customers are looking for solution in situations when:
Interest and amount is not known e.g. What will a deposit of €5000 at 6% compounded yearly interest be worth if put in the bank for 8 years?
Deposit is not known e.g. How much money would you need to deposit today at 8% annual interest compounded monthly to have €1600 in the account after 11 years?
Where time period is not defined e.g. How long does it take for €4,600 to grow into €13,220 at 8% compounded quarterly?
How to use Compound interest calculator?
This Compound interest calculator is an online financial widget. All you have to do in order to use it is to embed this calculator into your website. And you’re ready to go! Yet, before taking off, you should note that our Compound interest calculator is fully convertible.
This calculator widget can be adapted to any needs
Those who encountered with making a deposit would agree that there are more than a few options how to do it. Not all financial service institutions treat money investments the same way. Some apply compound interest monthly, others quarterly or even annually. Some of them charge fees, others don't.
Taking this into account, it's up to your control to modify the calculating formula or any other element of the calculator. Also, you can check out alternative calculator templates related to financial services.
Moreover, you can modify your Compound interest calculator to match it perfectly to your website look. The control of its appearance (design, color & text) is completely in your hands. Compound interest calculator widget works on all modern browsers and can be shown on any device whatever it is smartphone, tablet or computer.
Compound interest calculator leading users down the conversion funnel
When it comes to long term commitment, especially a financial one, people tend to collect all the necessary information first, evaluate the conditions and then make the final decision. Interactive calculators are great at helping you cover these points, but that’s not all. By adding a few additional elements, your calculator can encourage users to take further steps in your customer journey.
Compound interest calculator with an appointment booking form
If you're a financial service provider, your website goal is to lead visitors to book an appointment with you and then convert them to customers via live consultations. Adding an order form to your compound interest calculator will let you facilitate the process, as your users will be able to book a consultation with you straight away. All order and contact information together with the calculation results will be sent to your email and you can customize a direct message triggered by the click on the button.
You can also receive email alerts when consultation requests are submitted and later on have hot lead contact in your database. When creating your calculator add an order button at the end and customize the contact details you want to collect.
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Compound interest calculator mailing results to client’s email
If you dont want to push your client to a meeting straight away, Calconic also offers the possibility to send the calculation results directly to the client’s email address. That way giving them more time to think, but at the same time adding their contact details to your mailing list. Adding a mail results element will let your users download their estimates after adding their email address into the text field and you will be able to reach out to them as a follow up any time. Grow your mailing list in no time!
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Benefits of having Compound interest calculator on your website
Here’s why you should consider embedding our Compound interest calculator.
Benefits to your business:
Engage your website visitors. Compound interest calculator interactive widget. It’s easy way to your potential customers to find out the needed information. Since the tool requires to take an active participation it catches customers attention and involves them to the game. Consequently, at the end, when they’re done, it’s an easy way for you to collect sales leads (no matter it’s an email, an order form or a phone call for more details).
Optimize your work. Compound interest calculator elevates your work efficiency to the next level. What could be better than your work done by your customer himself by his own choice?
Integrate with sales management tools. All leads can be automatically transferred directly to your CRM system, no matter SalesForce, HubSpot or any other system you’d be using – our product is compatible with all of them. This way you can keep all prospects and inquiries in a single place.
Boost your brand trust. Grow a confidence between your existing and potential customers by providing them with some helpful tools like Compound interest calculator.
Benefits to your customers:
A possibility to assess the presumable outputs. The Compound interest calculator provides an opportunity to project the results of your customers’ investments. Within the matter of several clicks they can test how their investments change if they switch different compounding interval, include periodical additions, increase/decrease calculation period and etc.
Straightforward communication and instant results. The Compound interest calculator solves an issue in a matter of couple minutes. The use of this calculator overtake the long journey of the inquiry (sending, waiting for the result, replying). Instead, the results for the user are displayed right away, without any disruption of the consultancy. Go further, get even more leads
The Compound interest calculator is just a single pick from our infinite selection of calculators, acknowledged tools in improving the quality of your customer service. With Calconic you can create any interactive calculator you can think of! For example, you can build a calculator to figure how much your customers can save in XX years by drinking one cup less of coffee in a day. Or calculate a regular monthly deposit to collect XX sum in XX years.
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