Compound Interest Calculator
See how savings grow with compounding and regular contributions.
Final balance
20,096.61
After 10.00 years
Total invested
10,000.00
Interest earned
10,096.61
Effective annual rate
7.229%
Doubling time (rule of 72)
10.3 years
A = P(1 + r/n)^(nt) + PMT × (((1 + r/n)^(nt) − 1) ÷ (r/n))
- Interest accounts for 50.2% of the final balance.
- The result is nominal. Subtract your expected inflation rate from the interest rate to think in real terms.
| Year | Invested | Interest | Balance |
|---|---|---|---|
| 1 | 10,000.00 | 722.90 | 10,722.90 |
| 2 | 10,000.00 | 1,498.06 | 11,498.06 |
| 3 | 10,000.00 | 2,329.26 | 12,329.26 |
| 4 | 10,000.00 | 3,220.54 | 13,220.54 |
| 5 | 10,000.00 | 4,176.25 | 14,176.25 |
| 6 | 10,000.00 | 5,201.06 | 15,201.06 |
| 7 | 10,000.00 | 6,299.94 | 16,299.94 |
| 8 | 10,000.00 | 7,478.26 | 17,478.26 |
| 9 | 10,000.00 | 8,741.77 | 18,741.77 |
| 10 | 10,000.00 | 10,096.61 | 20,096.61 |
What does Compound Interest Calculator do?
Project the growth of a lump sum with any compounding frequency, plus optional regular deposits. A year-by-year table shows the balance, the contributions and how much of the total is interest earned on interest.
How to Use Compound Interest Calculator
- 1Enter the starting amountYour initial deposit, or zero if starting fresh.
- 2Set rate and durationThe annual interest rate and how many years it runs.
- 3Choose compounding frequencyMore frequent compounding grows slightly faster.
- 4Add regular depositsOptional, but this is what makes the biggest difference.
Key Features
- Annual, half-yearly, quarterly, monthly, weekly and daily compounding
- Optional recurring contribution added each period
- Year-by-year table separating contributions from interest earned
- Effective annual rate shown so you can compare offers fairly
- Rule of 72 estimate of how long the money takes to double
Frequently Asked Questions
What is the compound interest formula?
A = P(1 + r/n)^(nt), where P is the principal, r the annual rate as a decimal, n the compounding periods per year and t the years. Regular deposits add PMT × (((1 + r/n)^(nt) − 1) ÷ (r/n)).
Does daily compounding make much difference?
Less than most people expect. At 6% a year, annual compounding gives 6.00% effective, monthly gives 6.17% and daily gives 6.18%. The rate and the time you stay invested matter far more than the frequency.
What is the rule of 72?
Divide 72 by the annual rate to estimate the doubling time. At 8% money doubles in roughly 9 years. It is an approximation that works well for rates between about 4% and 15%.
Does this account for inflation or tax?
No. The result is a nominal figure. To think in real terms, subtract your expected inflation rate from the interest rate before calculating — that gives you purchasing power rather than currency units.
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