# Compound Interest Calculator Yearly

## Introduction

Compound interest is a powerful financial concept that allows you to earn interest not only on your initial investment but also on the interest accrued over time. To make these complex calculations easier, a Compound Interest Calculator comes in handy. In this article, we will provide you with a simple and efficient calculator built with HTML and JavaScript.

## How to Use

1. Enter the principal amount in the designated input field.
2. Input the annual interest rate as a percentage.
3. Specify the number of years you want to calculate compound interest for.
4. Click the “Calculate” button to obtain the result.

## Formula

The formula for calculating compound interest is given by:

Where:

• is the total amount after interest.
• is the principal amount.
• is the annual interest rate.
• is the time in years.

## Example

Let’s say you invest \$1,000 at an annual interest rate of 5% for 3 years. Using the formula, the compound interest would be calculated as follows:

Result

The compound interest would be the amount obtained by subtracting the principal from the total amount.

## FAQs

Q: Can I leave any input field blank?
A: No, all input fields must be filled for accurate calculations.

Q: What unit should I use for the principal amount and interest rate?
A: Use the same currency for the principal amount, and express the interest rate as a percentage.

Q: Why is the result not updating after clicking “Calculate”?
A: Ensure that all input values are numerical, and try again.

## Conclusion

The Compound Interest Calculator provides a quick and precise way to determine the growth of your investment over time. Utilize this tool wisely for financial planning and decision-making.