Compound Interest
Final Balance
$0.00
Total Contributed
$0.00
| Year | Contributed | Interest Earned | Balance |
|---|
How to use this compound interest calculator
- Enter your initial amount, monthly contribution, and interest rate.
- Set the number of years to project.
- See your final balance and a year-by-year breakdown instantly.
What is compound interest?
Compound interest is interest earned on both your original balance and the interest already accumulated. Over long periods, and with regular contributions, it can grow savings significantly faster than simple interest.
How much does compounding frequency matter?
This calculator compounds monthly, which is common for savings accounts. More frequent compounding (daily) yields slightly more growth than less frequent (annual), but the difference is usually small.
Does this account for inflation?
No, this shows nominal growth only. To estimate real purchasing power, you'd need to subtract an assumed inflation rate from your returns separately.