What is an SIP calculator?
Answer
Answer
Answer
An SIP calculator is an online calculator that helps you calculate the amount that you can earn on your investment if you keep investing regularly. The device gives you an idea of how much you can earn on your investment amount if you continue staying invested.
The way an SIP calculator works is that it takes in to consideration the SIP amount, your investment tenure and the average rate of return.
The SIP calculator works on the formula = Principal amount * (1 + rate of expected return/total investment tenure)^no. of months invested.