### Fixed Deposite Interest Calculation

Formula for Fixed Deposite Interest Calculation:

A = P [( 1+ I/N )^NT - 1]

Where,

A: Total accrued amount (Both principal and the interest,

P: Principal or total loan amount,

I: Nominal Rate of Interest

N: Compounding Frequency or number of compounding periods in a year. (fd calculte quterly : 4)

T: Time, meaning the length of time the interest is applicable, generally in years. (year * 4)

Formula for Simple Interest Calculation:

Interest = (P * R)/100 * T

A = P + Interest

Where,

P: Principal or total loan amount,

R: Rate of interest

T: Number of years

A: Total accrued amount (Both principal and the interest)