Use the Cumulative Interest Calculator to determine how much interest you can earn over time based on your principal investment, interest rate, and time period.
Understanding Cumulative Interest
Cumulative interest refers to the total interest that accumulates on an investment or loan over a specified period. This type of interest is calculated on the initial principal and also on the accumulated interest from previous periods. The formula for calculating cumulative interest is:
Cumulative Interest = Principal * (1 + (Interest Rate / 100))^Time Period - Principal
Where:
- Principal: The initial amount of money invested or borrowed.
- Interest Rate: The percentage of