Compound Interest calculator

When you borrow money from a bank, you pay interest. Interest is really a fee charged for borrowing the money, it is a percentage charged on the principle amount for a period of a year - usually.
\( S = P \left(1 + \dfrac{j}{m}\right)^{mt} \ \ \) where:

\( S \) is value after \( t \) periods
\( P \) is principal amount (initial investment)
\( t \) is number of years the money is borrowed for
\( j \) is annual nominal interest rate (not reflecting the compounding)
\( m \) is number of times the interest is compounded per year

Balance after {{years}} years is: {{compoundInterestResult}}