Continuous compound interest is slightly different from the simple interest one; you may find out the difference easily. It’s because the rate of interest may not increase by time, but the principal amount of the bank increases annually; only the first interest comes in the simple calculation.
However, if you have deposited the money for savings in bank then that would be beneficial for you; on the other hand, if you have taken loan in such a way of interest, you would have to spend more money in paying off; there comes the calculator to help.
What Are the Uses of Continuous Compound Interest Calculator?
Let’s see the uses of continuous compound interest calculator:
- You can find out the installments, down payments, interest rates, & other things related to it with one press or applying formulas.
- You may decide the deposit or loan amount with the calculator after analyzing all the factors that affect the financial exchanges per period.