# Compound Interest & Loans

Common financial functions

$1,000 after 3 years at 7% | $1,225.04

By default the compound interest function assumes a yearly compounding interval. You can also specify a monthly compounding interval:

$1,000 for 3 years at 7% compounded monthly | $1,232.93

present value of $1,000 after 20 years at 10% | $148.64

monthly repayment on $10,000 over 6 years at 6% | $165.73

annual repayment on $10,000 over 6 years at 6% | $1,988.75

total repayment on $10,000 over 6 years at 6% | $11,932.48

monthly interest on $10,000 over 6 years at 6% | $26.84

annual interest on $10,000 over 6 years at 6% | $322.08

total interest on $10,000 over 6 years at 6% | $1,932.48

For an amortizing loan, the monthly interest decreases over time as you pay off the loan's principal. Typically an amortization table is used for details about what you'll pay in a given month. The monthly interest function in Soulver indicates the average monthly interest paid over the lifetime of the loan.

$500 invested $1,500 returned | 2x

annual return on $1,000 invested $2,500 returned after 7 years | 13.99%