Compound Interest Calculator
See how a savings balance grows when interest is added to the balance and then earns interest of its own. Pick how often the interest is added.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
The balance is the starting amount times one plus the yearly rate divided by how many times a year interest is added, raised to the number of times it is added over the years.
More frequent compounding gives a little more growth at the same yearly rate. This does not include later deposits or taxes on the interest.
Worked example
Starting with $5,000.00 at 5% a year for 10 years, the balance grows to $8,235.05, which is $3,235.05 more than you started with.
Questions
What does compounding mean?
Interest is added to your balance, and the next interest is earned on the larger total. Over long periods that effect grows.
Does this include deposits?
No. It shows one starting amount. Regular deposits would grow more than this shows.
Do savings rates stay the same?
Most rates change over time. This calculator holds one rate for every year, so treat the result as a model.
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