Compound Interest Calculator
See how savings grow with compounding and monthly deposits.
Final balance
58,785.61
Total deposited
34,000.00
Interest earned
24,785.61
| Year | Total deposited | Interest earned | Balance |
|---|---|---|---|
| 1 | 12,400.00 | 919.98 | 13,319.98 |
| 2 | 14,800.00 | 2,115.52 | 16,915.52 |
| 3 | 17,200.00 | 3,609.48 | 20,809.48 |
| 4 | 19,600.00 | 5,426.64 | 25,026.64 |
| 5 | 22,000.00 | 7,593.83 | 29,593.83 |
| 6 | 24,400.00 | 10,140.09 | 34,540.09 |
| 7 | 26,800.00 | 13,096.88 | 39,896.88 |
| 8 | 29,200.00 | 16,498.29 | 45,698.29 |
| 9 | 31,600.00 | 20,381.21 | 51,981.21 |
| 10 | 34,000.00 | 24,785.61 | 58,785.61 |
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About this compound interest calculator
Compound interest means you earn interest on your interest. Enter a starting amount, an annual rate, how often it compounds and an optional monthly deposit to see how your money grows year by year.
How to use it
- 1Enter your starting amount and annual interest rate.
- 2Choose the number of years and how often interest compounds.
- 3Add an optional monthly contribution and review the yearly table.
Frequently asked questions
What is compound interest?+
It's interest calculated on both your original deposit and the interest already earned, so your balance grows faster over time than with simple interest.
Does compounding frequency matter?+
Yes, a little. The more often interest compounds (daily vs. yearly), the more you earn at the same nominal rate, though the difference is usually small.
When are monthly contributions added?+
This calculator adds contributions at the end of each month, which is a common and slightly conservative assumption.
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