Welcome to my Blog!

It’s a good thing that Wordpress has this scheduled post thing. By the time you are reading I am on my way to Kuala Lumpur in Malaysia attending “Hack in the Box”.

So… the other time I was explaining in my post on a savings account, which covers compounded interests. Then there was this guy asking the exact calculation on compounding interests. It is quite tricky though, because calculating how much interest in savings or loan you incurred is not an easy task.

Heres the post that I made on compounded interest savings account:
http://www.dennisquek.com/2008/09/introduction-to-citibanks-step-up-saving-accounts/

So I decided to develop a simple “Compound Interest Excelsheet calculator”. This calculator is based on a monthly compount, so please used it appropriately .This is an excel spreadsheet, so you can download it and open this using Microsoft Excel, or a Microsoft Excel Reader. (Don’t worry, it is virus free, trust me.)

On this calculator, you need 3 variables.

1. Your initial amount.
For viagra to buy online savings, this is the initial opening amount. For loan, it is the amount you have already paid.

2. Your monthly figures
For savings this is how much you save a month / For loan this would be the amount you will repay each month.

3. Interests in compounding percent.
This is the yearly interests you always see in marketing ads. If your saving plans offers a 1.2% compound interests yearly, it means it is offering a 1.2% divided by 12, which is 0.1% a month. This is different from 1.2% a year.

With these in mind, key the data in, and all the figures shows up instantenously. My aim is to show you the effective interest rate, by calculating interests earned less the amount without the interests, to calculate the effective % of interests earned.

You can download it right Here!