As there are an array of investment options available in the market, investors often incline towards those that generate more returns. To ensure they have picked the right investment plan, investors are often advised to compare and assess the returns accrued through different options.
However, the comparison process is quite cumbersome when done manually. Further, it runs a greater risk of making errors. This is why using a reliable Google investment calculator is a better alternative.
In the case of fixed deposits, the interest is calculated using the compound formula –A = P x (1 + r/n) ^ t.
Here, A’ stands for maturity value, ‘P’ stands for Principal amount, ‘r’ stands for the interest rate, ‘t’ stands for tenor, and ‘n’ stands for the frequency at which interest is compounded. Therefore, interest = A-P.
Similarly, in the case of Public Provident Fund, interest is calculated using the formula – F = P [({(1+i)^n}-1)/i]. Where, ‘F’ is the Amount at maturity, ‘P’ is the Instalments made annually, ‘n’ is the years of investment, and ‘i’ is the interest rate.
Likewise, in the case of recurring deposit the formula used is the same as fixed deposit interest calculation, i.e. A = P x (1 + r/n) ^ t and I = A – P.
Fixed Deposit Calculator 