What Is the Final Amount?
Definition
Final Amount: The total you receive at the end of the term: the principal plus the interest earned over the term. On a deposit, the amount after withholding tax is the net final amount.
The final amount is the total you receive when the term ends: the principal plus the interest earned. It is the main result of the interest calculators, written A in the formulas. Simple interest earns on the principal only, compound interest on the growing balance. On a deposit, withholding tax is taken off first.
Where it appears in the formulas
Simple interest uses A = P × (1 + r × t) and compound interest A = P × (1 + r/n)^(n × t); total interest is A − P. 10,000 TRY at 10% a year for 5 years ends at 15,000 TRY with simple interest and 16,453.09 TRY compounded monthly. A 32-day deposit of 100,000 TRY at 40% a year with 17.5% withholding ends at 102,893.15 TRY net.