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Final amount
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Total contributions
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Interest earned
| Year | Balance | Contributions | Interest earned |
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How to use the Compound Interest Calculator
- Enter your initial investment, annual interest rate, and duration.
- Choose how often interest compounds — monthly is typical for savings accounts.
- Add a monthly contribution to model regular deposits.
- Click Calculate to see the year-by-year growth table.
What is compound interest?
Compound interest means you earn interest on your interest. Over time, this creates exponential growth. The formula is A = P(1 + r/n)^(nt) where P is principal, r is annual rate, n is compounding frequency, and t is time in years.
With regular contributions, each deposit also compounds, which is why starting early makes such a large difference.