Compound Interest calculator

When you borrow money from a bank, you pay interest. Interest is really a fee charged for borrowing the money, it is a percentage charged on the principle amount for a period of a year - usually.

\( S = P \left(1 + \dfrac{j}{m}\right)^{mt} \ \ \) where:

\( S \)	is value after \( t \) periods
\( P \)	is principal amount (initial investment)
\( t \)	is number of years the money is borrowed for
\( j \)	is annual nominal interest rate (not reflecting the compounding)
\( m \)	is number of times the interest is compounded per year