Saving money for the bank account, it is necessary to calculate the size of future income, and it depends on what will be percent – simple or difficult. For calculation of percent of different types there are special formulas.
Instruction
1. Being going to place money for any given contribution, define how many times will be charged percent. Depends on it how many money you receive, taking away a contribution upon termination of validity period. Simple percent means that the additional amount will be charged on the separate account once a year. After the termination of term of a contribution they will be ranked as the main sum.
2. Use the following formula of calculation of simple percent: total amount = the contribution sum * (1 + the formula is applicable if the term of a contribution is equal not to the whole year, and for example, to several months.
3. If you do not want to make calculations independently, use the online calculator for calculation of percent which can be found here: http://fintools.ru/Calculator.asp?FUN=5/. Enter the invested sum, a rate of simple percent and term of a contribution into the respective fields, having specified unit of measure (days or years). Press the Calculate button, and you will see how many money will appear on your account after the end of action of a contribution.
4. The difficult percent is charged several times a year. Its difference from simple is that every time charge is made for already increased sum of money, but not on initial. The more time in a year is charged percent, the more money you as a result receive. The difficult percent is calculated by a formula: total amount = the initial sum of a contribution * (1 + (an annual interest rate / quantity of the periods of capitalization in a year)) * the capitalization periods for all term of a contribution. Calculations are quite difficult therefore it will be simpler to use the special program also.
5. Remember that if you choose a fixed deposit, you have no right to take away money before the termination of its validity period, otherwise you will lose practically all income.