Interest calculator — frequently asked questions
Is the tool free?
Yes. The tool is completely free and runs in your browser with no account required.
What is the difference between simple and compound interest?
Simple is calculated on principal only. Compound adds interest to the balance periodically.
Can I add monthly deposits?
Yes. In compound mode you can enter an optional extra monthly deposit.
Does it compare both types?
Yes. It shows a comparison between simple and compound results.
Does it work on mobile?
Yes. The tool is responsive and works on phones, tablets, and desktop browsers.