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Compound interest formula for fixed deposit...
Term Deposit Calculator
The Term Deposit Calculator helps users calculate the maturity amount, total interest earned, and effective annual rate for a term deposit based on the principal amount, annual interest rate, investment term, and chosen compounding frequency.
Use Our Term Deposit Calculator
How to Use the Term Deposit Calculator
This step-by-step guide will assist you in using the Term Deposit Calculator to determine the maturity amount, total interest earned, and the effective annual rate for your term deposit investment.
Step 1: Enter Principal Amount
- Locate the field labeled Principal Amount ($).
- Enter the amount you wish to deposit, ensuring it is between $1,000 and $10,000,000.
- Note that this field is required, so you must input a valid number within the specified range.
Step 2: Input Annual Interest Rate
- Find the field labeled Annual Interest Rate (%).
- Input the interest rate offered by the financial institution, within the range of 0.01% to 20%.
- This field is also required, and the rate should be specified to a precision of 0.01%.
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