Simple Interest: P is the present value or loan amount, A ...
Financial Formulas
Simple Interest: P is the present value or loan amount, A is the future value or total amount, r is the annual interest rate as a decimal, t is the time in years, and I is the interest earned.
|Interest |Future Value |Present Value |Interest Rate |Time in Years |
|[pic] |[pic] |[pic] |[pic] |[pic] |
| | | |Or |Or |
| | | |[pic] |[pic] |
Compound Interest: P is the present value or loan amount, A is the future value or total amount, r is the annual nominal interest rate as a decimal, m is the number of compounding periods per year, n is the total number of compounding periods, I is the total interest earned, and t is the time in years.
|Rate Per |Future |Total Interest |Present |Effective |
|Period |Value |Earned |Value |Rate |
|[pic] |[pic] |[pic] |[pic] |[pic] |
|Or |Or |Or |Or | |
|[pic] |[pic] |[pic] |[pic] | |
|Number of Compounding |Time in Years | | | |
|Periods | | | | |
|[pic] |[pic] | | | |
Continuous Compound Interest: P is the present value or loan amount, A is the future value or total amount, r is the annual nominal interest rate as a decimal, I is the total interest earned, and t is the time in years.
|Future Value |Present Value |Nominal Rate |Total Interest Earned |Effective Rate |
|[pic] |[pic] |[pic] |[pic] |[pic] |
| |Or | | | |
| |[pic] | | | |
|Time in Years | | | | |
|[pic] | | | | |
Ordinary Annuity: Pmt is the payment, FV is the future value, PV is the present value, i is the interest rate per period as a decimal, n is the total number of payments, and t is the amount of time in years.
|Future Value |Payment or Sinking Fund |Present Value |
|[pic] |[pic] |[pic] |
|Total Number of Payments |Time in years | |
|[pic] |[pic] | |
Amortization: PV is the loan amount, Pmt is the payment, B is the remaining balance on the loan, i is the interest rate per period as a decimal, n is the total number of payments, IPmt is the interest portion of a payment, PPmt is the principal portion of a payment, I is the total interest paid, and t is the time in years.
|Payment |Balance after k payments |Interest Portion of the kth Payment |
|[pic] |[pic] |[pic] |
| |Or | |
| |[pic] | |
|Principal Portion of the kth Payment |Loan Amount |Number of Payments |
|[pic] |[pic] |[pic] |
|Time in Years |Total Interest Paid |
|[pic] |[pic] |
| |Or |
| |[pic] |
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