# Compound Interest Calculator

Compounding interest is calculating interest on interest.

When you are saving money compounding means you are reinvesting your interest to earn additional interest payments. However, if you are borrowing and not making regular interest payments, the amount you owe will increase quicker as interest becomes due on the existing loan amount plus interest accrued to date.

Compound interest can be calculated on:

- 1. Loan Interest
- 2. Savings Interest

Although the calculation formula is the same for loans and savings, in the case of savings interest compounding works in your favour, while for loans interest compounding works against you.

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