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Interest Calculator

Enter the principal, the yearly rate and the term to see the amount at maturity with simple or compound interest, the interest earned and the effective yearly rate.

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Term unit

 

Interest type

 

Used for compound interest only.

Amount at maturity148,212.65₺With compound interest
  • Principal100,000.00 ₺
  • Interest earned48,212.65 ₺
  • Effective yearly rate48.21%
  • With simple interest140,000.00 ₺
  • Compound minus simple8,212.65 ₺

How it is calculated

Simple interest is earned on the principal only. With compound interest each period’s interest is added to the principal and earns interest too, so the gap grows with time. The effective yearly rate lets you compare rates that compound at different frequencies.

FormulaBasit: A × (1 + r × t) · Bileşik: A × (1 + r ÷ m)^(m × t)A: principal · r: yearly rate (40% → 0.40) · t: term in years (days ÷ 365, months ÷ 12) · m: compounding periods a year (monthly 12).

Example

₺100,000 at 40% a year for 12 months grows to ₺140,000 with simple interest and ₺148,212.65 with monthly compounding, an effective yearly rate of 48.21%.

Frequently asked questions

Do banks pay simple or compound interest on deposits?

Term deposits pay simple interest at maturity, by days. Rolling the deposit over with its interest creates the compound effect. For the withholding tax, use the deposit interest calculator.

What is the effective yearly rate?

The rate at which money actually grows over a year: with monthly compounding (1 + r ÷ 12)^12 − 1. 40% compounded monthly is 48.21% effective.

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