Compound Interest Calculator
Calculate how your investments grow over time with compound interest, including regular monthly contributions.
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Summary
Final Balance$54,916
Total Contributions$34,000
Total Interest Earned$20,916
| Year | Contributions | Interest | Balance |
|---|---|---|---|
| 1 | $12,400 | $816 | $13,216 |
| 2 | $14,800 | $1,864 | $16,664 |
| 3 | $17,200 | $3,162 | $20,362 |
| 4 | $19,600 | $4,727 | $24,327 |
| 5 | $22,000 | $6,578 | $28,578 |
| 6 | $24,400 | $8,737 | $33,137 |
| 7 | $26,800 | $11,226 | $38,026 |
| 8 | $29,200 | $14,068 | $43,268 |
| 9 | $31,600 | $17,288 | $48,888 |
| 10 | $34,000 | $20,916 | $54,916 |
FAQ
How does compounding frequency affect my returns?›
More frequent compounding (e.g., daily vs. annually) means interest is calculated and added to your balance more often, so each subsequent period earns interest on a slightly larger amount. The difference is usually small for typical savings rates but becomes meaningful at higher interest rates or over longer time horizons.
What is the difference between simple and compound interest?›
Simple interest is calculated only on the original principal, while compound interest is calculated on the principal plus any previously earned interest. Over time, compound interest results in significantly higher returns because you earn interest on your interest.