Compound Interest Calculator
Calculate how your money grows with compound interest and regular contributions.
Future Value
$106,639.02
Total Contributed
$70,000.00
Total Interest Earned
$36,639.02
Interest Ratio
34.4%
Year-by-Year Breakdown
| Year | Balance | Total Deposits | Interest |
|---|---|---|---|
| 1 | $16,919.19 | $16,000.00 | $919.19 |
| 2 | $24,338.58 | $22,000.00 | $2,338.58 |
| 3 | $32,294.31 | $28,000.00 | $4,294.31 |
| 4 | $40,825.16 | $34,000.00 | $6,825.16 |
| 5 | $49,972.70 | $40,000.00 | $9,972.70 |
| 6 | $59,781.53 | $46,000.00 | $13,781.53 |
| 7 | $70,299.43 | $52,000.00 | $18,299.43 |
| 8 | $81,577.68 | $58,000.00 | $23,577.68 |
| 9 | $93,671.22 | $64,000.00 | $29,671.22 |
| 10 | $106,639.02 | $70,000.00 | $36,639.02 |
About Compound Interest Calculator
Compound interest is the interest on a deposit calculated based on both the initial principal and the accumulated interest from previous periods. Our free online calculator helps you visualize how your investments will grow over time.
How It Works
The tool uses the standard compound interest formula: A = P(1 + r/n)^(nt). It takes your initial investment, regular contributions, interest rate, and compounding frequency to project your future balance and total interest earned.
Common Use Cases
- Projecting the future value of retirement savings or 401(k)s
- Comparing different investment accounts and interest rates
- Visualizing the impact of regular monthly deposits on long-term wealth
- Understanding the 'snowball effect' of compounding over decades
Frequently Asked Questions
Simple interest is calculated only on the principal amount. Compound interest is calculated on the principal amount AND the accumulated interest of previous periods, leading to exponential growth.
The more frequently interest is compounded (e.g., daily vs. annually), the more money you will earn, because you start earning interest on your interest sooner.