Monthly Compound Interest

Written by Jerry Ratzlaff on . Posted in Manufacturing Engineering

Monthly compound interest, abbreviated as MCI, solves for the future value of your investment.

 

monthly compound interest Formula

\(\large{ MCI =  P \; \left[ \left( 1 + \frac{ i }{ 12 }  \right)^{12\;t}  - P \right]  }\)  

WHERE:

\(\large{ MCI }\) = monthly compound interest

\(\large{ P }\) = principle amount

\(\large{ i }\) = interest rate

\(\large{ t }\) = time period

 

Tags: Equations for Manufacturing