Fixed deposit calculations can be done by both manual and automatic methods.Now let us figure out the fd calculation in both ways:
1.) Manual Calculation Technique: It is the conventional process to know your Fixed deposit interest calculation. The formula for manual fd calculation is used as below:
Where,A = Final Amount
P = Principal Amount (initial investment)
r = Annual Nominal Interest Rate (as a decimal, not in percentage)
n = Number of times the interest is compounded per year
t = Number of years
2.) Online Calculator Technique: Nowadays online
FD calculator is very amazing technique and it is a very useful online tool that helps you to easily calculate your Fixed deposit return. Online FD calculators uses simple technique in which you need to put your amount, tenure, interest rate and can get accurate results instantly. You can easily calculate and compare the interest receivable by changing the deposit amount.
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