Compound Interest Calculator
See how savings grow with interest and deposits.
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About Compound Interest Calculator
Compound interest is when your interest starts earning interest too. Enter a starting amount, a monthly deposit, the interest rate and number of years to see how your savings or investments could grow.
How to use Compound Interest Calculator
- 1Enter the starting amount and monthly deposit.
- 2Enter the yearly interest rate, years and how often interest compounds.
- 3See the final balance and the yearly table.
Why use this tool?
- Private. What you type stays in your browser.
- Free. No sign up, no limits, no watermark.
- Fast. Results in seconds, no waiting in a queue.
- Any device. Works on computers, tablets and phones.
Frequently asked questions
What does compounding frequency mean?
It is how often interest is added to the balance. Monthly compounding grows a little faster than yearly.
Is the result guaranteed?
No. Investment returns change over time. Use the result as an estimate.
What is the rule of 72?
Divide 72 by the yearly rate to guess how many years it takes to double your money. At 8 percent that is about 9 years.