Compound Interest Calculator
Shows how money grows with compound interest.
Result
- Final amount
- S$14,908.33
- Interest earned
- S$4,908.33
How to use the compound interest calculator
- Enter the initial amount (S$).
- Enter the annual rate (%).
- Enter the years.
- Enter the compounding.
- The results update as you type, or press Calculate.
- Read the final amount first, then the supporting figures below it.
Formula
A = P(1 + r/k)^(k·t).
Worked example
For example, with these inputs:
- Initial amount (S$): 10,000
- Annual rate (%): 4
- Years: 10
- Compounding: Monthly
the calculator returns:
- Final amount: S$14,908.33
- Interest earned: S$4,908.33
Background
Cars in Singapore carry costs found almost nowhere else, including the Certificate of Entitlement and the Additional Registration Fee. Loans are capped at 60% or 70% of the price depending on the car's Open Market Value, and the maximum tenure is seven years.
Calculators make it easy to compare scenarios side by side: a shorter tenure versus a lower instalment, a higher deposit versus more cash in hand, or paying down debt versus investing. Seeing the total cost, not just the monthly figure, usually makes the better choice obvious.
Frequently asked questions
How does the compound interest calculator work?
It applies this formula: A = P(1 + r/k)^(k·t).
Is this financial advice?
No. It is a calculation tool. For decisions about loans or investments, compare official offer documents and consider speaking to a licensed adviser.