Many times we would like to know in advance how much it could make to interest a certain amount deposited on a postal booklet or on a bank account in a given period of time . If you really want to do it behooves us to learn how to calculate the interest. Very often in the advertising of banks feel that we are given an interest rate of 2%, but what does this mean in practice?

To calculate the interest (I) postal or bank must first know how much you want to pay the capital which we will call “C”. You must also know the interest rate that the post office or the bank is inclined to give and which we will call “R”. Another very important thing for the right calculation is the time that we call “T” which can be expressed in years, months or days. Normally it is more convenient to express this in years, since the same banks advertise their offerings showing the annual interest rate.

how-to-calculate-the-interest

If you are aware of these three elements: capital C, the rate R and time t, you can begin to calculate your interest using the following formula: Interest = C x R x T: 100 interest rate equal to the capital for Time divided cent ( to know the annual interest rate). If you do not know the rate just ask the post office or bank official with whom you talk, or look for information at a branch of your bank if you already have an account. If not, for sure you will find online information about the type of your account!

For the calculation of monthly must instead use the following formula in which, compared to the previous formula, varying only the final number: Interest = C x R x T: 1200 and finally to calculate the daily interest, you have to use this’ other formula, which is also similar: Interest = C x R x T: 36000.