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Interest Calculations

What do all the different types of interest mean?

There are a number of confusing ways of working out interest. This calculator will help you convert from different types:

Effective annual interest rate
This is the interest rate taking compound interest into account.

Annual interest rate compounded monthly
This is the nominal interest rate, from which the effective rate is calculated when compounded monthly.

Annual interest rate compounded daily
This is the nominal interest rate, from which the effective rate is calculated when compounded daily.

Interest
Enter any one figure below, then press "calculate"

Effective annual interest rate	%
When compounded monthly:
Effective monthly interest rate	%
Annual interest rate compounded monthly	%
When compounded daily:
Effective daily interest rate	%
Annual interest rate compounded daily	%

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