Compound Interest Calculator
See how savings grow with compound interest over time.
Overview
Shows how an investment or savings balance grows when interest compounds over time. It helps you see the effect of rate, time, and compounding frequency on a starting amount.
How it works
The final amount equals the principal times one plus the rate per period, raised to the number of periods. In the common form, that is the principal times one plus the annual rate divided by the number of times it compounds per year, all raised to that compounding frequency times the number of years. Compounding means you earn interest on your interest, so more frequent compounding and longer time horizons both increase the final balance. Results assume a fixed rate and are estimates for planning, not financial advice.
How to use it
- Enter your starting principal.
- Enter the annual interest rate.
- Choose how often it compounds and for how many years.
- Read the final balance and the interest earned.
Examples
Ten year growth
10,000 at 7 percent compounded monthly for 10 years grows to about 20,100, roughly doubling.
Frequency effect
Compounding monthly instead of yearly produces a slightly higher balance for the same rate, because interest is added more often.
FAQ
What is compound interest?
How does compounding frequency matter?
Why does time matter so much?
Is the rate guaranteed?
Is my data uploaded?
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