Compound Interest Calculator
Calculate compound interest and see your investment grow over time.
Final amount, total interest earned, and year-by-year breakdown table.
Year-by-year breakdown
| Year | Balance | Interest this year |
|---|---|---|
| 1 | $10,722.90 | +$722.90 |
| 2 | $11,498.06 | +$775.16 |
| 3 | $12,329.26 | +$831.20 |
| 4 | $13,220.54 | +$891.28 |
| 5 | $14,176.25 | +$955.71 |
| 6 | $15,201.06 | +$1,024.80 |
| 7 | $16,299.94 | +$1,098.89 |
| 8 | $17,478.26 | +$1,178.32 |
| 9 | $18,741.77 | +$1,263.51 |
| 10 | $20,096.61 | +$1,354.84 |
How to use Compound Interest Calculator
- 1Enter the initial principal, annual interest rate, and duration in years.
- 2Optionally add a recurring monthly contribution.
- 3Select the compounding frequency (daily, monthly, annually, etc.).
- 4View the final balance, total interest earned, and the detailed yearly breakdown.
Practical guide: Compound Interest Calculator
Why use this tool?
Calculators provide quick estimates to compare scenarios, prepare a decision or check an order of magnitude. Calculations run locally in your browser with no data transmission.
Privacy and limits
Entered values are calculated locally. They do not replace professional advice for financial, medical or legal decisions.
Compound Interest Calculator is designed to be free, fast and available without creating an account. It suits freelancers, students, marketing teams, developers and small businesses that need to handle a task efficiently.
Best practices
- Use realistic numbers.
- Compare several scenarios.
- Ask a professional for important decisions.
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Frequently asked questions
What compound interest formula is used?⌄
The formula is A = P(1 + r/n)^(nt) + PMT × [((1+r/n)^(nt) - 1) / (r/n)], where P is the initial principal, r the annual rate, n the compounding frequency, t the duration in years, and PMT the periodic contribution.
Which compounding frequency should I choose?⌄
The more frequently interest compounds, the faster it accumulates. Daily compounding is mathematically the most advantageous. In practice, most savings accounts use monthly or annual compounding.
Are monthly contributions supported?⌄
Yes. Enter an amount in the "Monthly contribution" field to simulate an investment with regular deposits. The PMT formula is applied at the chosen compounding frequency.
What is the year-by-year table for?⌄
The table shows the balance and interest earned for each year (up to 30 years). It helps visualize the snowball effect of compound interest over time.
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