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Finance

Simple Interest with Monthly Contributions Calculator

Calculate simple interest earned when you make regular monthly deposits in addition to an initial principal.

Inputs

01,00,00,000
010,00,000
0.150
140

Calculation Results

Total Amount Invested

₹70,000

Total Simple Interest Earned

₹16,200

Total Maturity Value

₹86,200

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Formula & Mathematical Explanation

I=P×r×t100+C×r1200×N(N+1)2\displaystyle I = \frac{P \times r \times t}{100} + C \times \frac{r}{1200} \times \frac{N(N+1)}{2}

Calculates simple interest on initial principal (P) plus simple interest on regular monthly deposits (C) using an arithmetic progression of months (N) to maturity.

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