This project is a simple compound interest calculator built using React. It allows users to calculate their potential earnings over time based on the initial principal, interest rate, compounding frequency, and investment duration.

This compound interest calculator helps users estimate how much their investment could grow over time using compound interest. It is built with React and designed to be simple and easy to use.

• Calculates compound interest based on:
  • Initial investment (principal)
  • Annual interest rate
  • Number of times interest is compounded per year
  • Investment duration in years
• Real-time updates as input values change
• Simple and user-friendly interface

• Frontend: React
• Styling: (Add your styling tools, e.g., CSS, Sass, etc.)
• State Management: React Hooks

1. Clone the repository:

   git clone https://github.com/yourusername/react-compound-calculator.git
   cd react-compound-calculator

2. Install dependencies:

   npm install

3. Start the React development server:

   npm start

   The app will be available at http://localhost:3000.

4. For production build:

   To create a production build, run:

   npm run build

   This will create an optimized build in the build/ directory, ready for deployment.

1. Open your browser and go to http://localhost:3000 after starting the development server.
2. Input the following data:
   • Principal: The initial amount you plan to invest.
   • Annual Interest Rate: The interest rate of your investment in percentage.
   • Compounding Frequency: Choose how often the interest compounds (e.g., annually, quarterly, monthly).
   • Investment Duration: The number of years you plan to invest.
3. The calculator will automatically compute the total balance and interest earned over the specified period.

The compound interest is calculated using the following formula:

[ A = P \left(1 + \frac{r}{n}\right)^{nt} ]

Where:

• A = the future value of the investment/loan, including interest
• P = the principal investment amount (the initial deposit or loan amount)
• r = the annual interest rate (decimal)
• n = the number of times that interest is compounded per year
• t = the number of years the money is invested or borrowed for

For example, if you invest $1000 at an annual interest rate of 5%, compounded monthly, for 10 years, the formula would be:

[ A = 1000 \left(1 + \frac{0.05}{12}\right)^{12 \times 10} ]

This would give a total balance of approximately $1647.01 after 10 years.

Contributions are welcome! Feel free to open issues, submit pull requests, or suggest new features.

This project is licensed under the MIT License. See the LICENSE file for details.