Compound Interest Calculator

steviecoyle

Hi, I am a software developer and I have created an App called "Compounded" for Android. I have been reading up on investing on MoneySavingExpert.com, MSN Money and the Telegraph.co.uk, and the best way to get my money to grow is with long term investments and compound interest.

I do not make money out of the app. I am trying to gauge interest and value of an app like this and I am just looking for people to try it out and let me know what they think.

Would anyone find a compound interest calculator app useful?

System

I just use the ^ button on my calculator, i think anyone who's already serious would do it themselves but it could be useful for investment companies to sell the higher risk funds to people

And on a website i wouldn't have the problem of my mobiles entire storage taken up by the system

colsten

There are plenty of such apps already available

steviecoyle

It is a relatively small app, but thank you for your feedback.

System

I do think compound interest is undervalued by the public as risk appetite is always put first

Some sort of database that let you search for particular stocks within a fund and link you to research might be popular, but getting that data might be hard or impossible.
Or maybe just a research database that made getting info easier, i find the free ones out there still involve a fair bit of clicking, digging and for want of a better word, work

bowlhead99

MatthewAinsworth wrote: »

Or maybe just a research database that made getting info easier, i find the free ones out there still involve a fair bit of clicking, digging and for want of a better word, work

Yes, it's almost as though investing is an inexact science, and doing the work to create a diversified long-term portfolio out of several thousand options creating almost infinite permutations and being confident that the resulting allocation is suitable for your needs, is something that it is worth paying attention to - rather than just accepting whatever falls out of some app as being "this is what you should buy".

steviecoyle wrote: »

Hi, I am a software developer and I have created an App called "Compounded" for Android.

Would anyone find a compound interest calculator app useful?

Obviously basic maths tells us that getting ten percent annually, compounded for two years, gives twenty-one percent rather than twenty percent. The power of compounding.

Still- building an app that tells me that - rather than a calculator that tells me that PLUS a variety of other customisable mathematical facts (which is a function that exists already in a hundred existing apps) seems to be something of a waste of resources.

Google and others such as Wolfram can do compound interest calculations natively in the search box, so building an App seems overkill and naive. Especially if you claim you are not looking to monetise it. Why build an app that replicates a fraction of the functionality built in for free to every smartphone calculator for offline use and that's also available in a search box for free to anyone with online connectivity on any smartphone or computer.

You do realise percentages are on the schools' National Curriculum for nine-year-olds, right? So what is the USP?

ruperts

Probably the wrong cohort to pitch this idea to as I'd imagine most people on here have been doing their own calculations for some time.

Personally I use excel and struggle to see how an app could improve upon that.

Nonetheless an app which contains a variety of different financial calculators like compound interest, compound interest with periodic contributions, loan/remortgage repayments and so on could work. I'd be surprised if there isn't already at least one such app on the market though.

inflationbuster

Expand your app so that l can put a stock in and it tell me the dividend and compounded results for a stock holding over a number of years, now that would be useful.

Cogs44

Had a look on google play and can't find it searching for 'compounded'?

ambitiouspanda

What bank do you all use for the compound interest?

ctdctd

ambitiouspanda wrote: »

What bank do you all use for the compound interest?

Any of them!

HTH