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Interest Calculator

Calculate your Credit card or loan interest as well as your compounding interest

When God created the world, He chose not to make a money tree. He no doubt exercised great wisdom in doing so, or else we'd have to spend a lot of time literally raking in the money!

Even so, there is a phenomenon in money management that makes it seem as though money is growing on trees.

It's called the "magic of compounding". Compounding can work for or against you. Take for example a credit card loan. Use the Loans Calculator below. Try $10,000 with a typical 24% bank interest, and see how long and how much it takes to pay up your loan:

LOAN INTEREST

Enter your loan balance: $
Enter the bank's interest rate:	%
Enter payment amount per month: $
or
Enter desired months until debt free:

Then use the below Compound Interest Calculator and try with a $10,000 deposit at an interest rate of 6% for 12 years. Your principal amount will double! It's called the rule of 72.

COMPOUND INTEREST
Principal Amount: $
Interest Rate:	%
Years:
Total Amount: $
Interest earned: $

Today's Bottom Line

Compounding is a financial tool that helps us manage His resources responsibly.