Please could someone show me how to work out compound interest for monthly saver?

Answer 1

How to do it depends upon your basic math skills and patience. (You can always do it the easy, quick way and use webpages.) If you do not have a Business Analyses calculator from Texas Instruments (or similar), you can use a regular calculator, or even a pen and paper.
If you have $1,000.00 at 6% interest, that is 1/2 % a month (0.005%). Multiply the $1,000.00 X 1.005% [1 for what you have; 0.005 for the increase due to interest earned].
So, if you deposit $1,000.00, in one month you will have ($1,000.00 X 1.005 = $1,005.00. For the next month, it would be $1,005.00 X 1.005 = $1,010.03, and so on.
There are also tables you can use to calculate more easily, based on 1,000's.
Caution: if you want to come up with the exact same method as your bank, credit union or whatever, you will need to know which of the 100's of methods of calculating interest they use.
In the example above, one of my credit unions uses that method; the other does not. For the first, I can calculate interest to the cent. For the other, I am only in the ballpark.

Answer 2

I use either one of the below links to calculate APY based on APR.

http://www.bankofinternet.com/quickhelp/calcinterest.asp

http://www.bankrate.com/brm/calc/cdc/CertDeposit.asp

Answer 3

you can not really do it without a Financial Calculator...google one