# Fixed Deposit Calculator

FD calculator determines the maturity value of your fixed deposit amount.The matured amount equal to principal multiple 1 number of value added to  rate(%) multiple term. The interest earned on cumulative fixed deposit is compounded matured amount  equal to principal multiple 1 number of value added to rate(%) divided to compounding frequency power of compounding frequency multiple term.

matured amount = principal * (1 + (rate * term))
The interest earned on cumulative fixed deposit is compounded

matured amount = principal * (1 + rate / compounding frequency) ^ (compounding frequency * term)

let us consider,

• Rolling over your original principal after the FD matures. The interest from your FD account is directly credited into your savings account by the bank.
• Roll-over the principal and interest. The original principal and the accrued interest are reinvested for the same term and interest rate applicable to maturity.
• Shop for a better interest rate. Ensure you compare the rates from at least three financial providers before settling.
• Compounding frequency of interest. Your interest can be compounded monthly, quarterly, semi-annually, or annually.
• Type of fixed deposit. Financial providers offer two types of FD accounts, which dictates how your interest is invested.

Example For Fixed  deposit

principal(2,00,000\$) , rate (3.5%) , term (27.143\$)

matured amount = principal * (1 + (rate * term))
=2,00,000*(1+(3.5*27.143)
the answer is matured amount = 10,000\$

The interest earned on cumulative fixed deposit is compounded.

matured amount = principal * (1 + rate / compounding frequency) ^ (compounding frequency * term)

principal(2,00,000\$) , rate (3.5%) , term (27.143\$)
The matured  amount is 77,455.23\$