About this Project

This website is part of a Computing Project developed by Alexandre Gegembauer during his final Computing Project at Arden University. The aim of this website is to make compound and simple interest calculators available on the web for anyone to use. This website is desired to be simple, with a clean layout and easy to use. Feel free to use it as necessary.

You may wonder what is the difference between a simple interest calculator and a compound interest calculator

A simple interest calculator is used to figure out how much interest you'll earn or pay on a loan or investment over a set period. This type of interest is calculated only on the original amount (the principal), so the interest stays the same each period. It's often used for short-term loans, car loans, or bonds where the interest doesn’t compound or grow.

A compound interest calculator, on the other hand, is used to determine how much interest you'll earn or pay when the interest is calculated not just on the original amount but also on any interest that has been added over time. This means the interest grows as time goes on because you’re earning or paying interest on the interest. It's commonly used for savings accounts, retirement funds, and mortgages, where the interest compounds monthly, quarterly, or yearly.