Introduction: This article introduces an HTML and JavaScript calculator designed to compute the future value of money over time based on the initial amount, annual interest rate, and time period.
Formula: The future value is calculated using the compound interest formula: ��=��×(1+�100)�FV=PV×(1+100r)t where ��FV is the future value, ��PV is the initial amount, �r is the annual interest rate, and �t is the time period in years.
How to Use:
- Enter the initial amount in the “Initial Amount” field.
- Enter the annual interest rate in the “Annual Interest Rate (%)” field.
- Enter the time period in years in the “Time Period” field.
- Click the “Calculate” button.
- The result, representing the future value, will be displayed below the button.
Example:
- Initial Amount: $1000
- Annual Interest Rate: 5%
- Time Period: 3 years
- Result: Future Value – $1157.63
FAQs:
- What does “Money Over Time” refer to in this calculator?
- “Money Over Time” refers to the concept of calculating the future value of an initial amount over a specified time period with compound interest.
- Can I use this calculator for investment planning?
- Yes, this calculator is suitable for estimating the future value of an investment based on the provided parameters.
- Is there a limit on the time period I can enter?
- The calculator does not impose a specific limit on the time period, allowing for a wide range of input values.
- What happens if I enter negative values for the initial amount or interest rate?
- The calculator requires non-negative values for accurate calculations. Negative values will result in an “Invalid input” message.
- How is the result rounded in the calculator?
- The result is rounded to two decimal places for clarity.
Conclusion: The Money Over Time Calculator provides a convenient way to estimate the future value of an investment or savings over a specified time period, aiding users in financial planning.