Simple vs Compound Interest Calculator
Use this calculator to compare the difference between simple interest and compounding interest. Simple interest means that interest is paid (or charged in the case of a loan) on the original principal amount only. Compound interest on the other hand means that interest is paid (or charged) on the principal amount plus on the interest as well. By inputting different values in the fields below you will see that interest rates may not be the only thing to consider in terms of evaluating an investment or mortgage product. For information on home financing solutions offering simple interest payments please Contact Us.
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