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Compound Interest Calculator

See how savings grow with compound interest and monthly deposits: final balance, interest earned, chart and year-by-year table.

Compound interest is interest on interest: each period, the interest you earned is added to your balance and starts earning interest itself. Over years the effect is large, and this calculator shows exactly how large. Enter a starting amount, an interest rate, how often interest is compounded and how many years you will save, and add a regular monthly deposit if you make one.

You get the final balance, the total you deposited, the interest earned, the effective annual rate (APY) and how long it takes your money to double, plus a chart and a year-by-year table you can download. Add an inflation rate to see what the result is worth in today's money. Everything is calculated in your browser.

How to use Compound Interest Calculator

  1. Enter the starting amount, the yearly interest rate and the number of years.
  2. Add a monthly deposit if you save regularly, and choose whether it is paid at the start or end of the month.
  3. Pick the compounding frequency (daily, monthly, quarterly, half-yearly, yearly or continuous).
  4. Read the results, check the chart and the yearly table, and download it as CSV.

Features

  • Compounding daily, monthly, quarterly, half-yearly, yearly or continuously.
  • Monthly deposits at the start or end of each month.
  • Final balance, total deposits and interest earned.
  • Effective annual rate (APY) for the chosen compounding.
  • Inflation-adjusted value in today's money.
  • Doubling time, exact and by the Rule of 72.
  • Stacked chart of deposits and interest, year-by-year table and CSV download.
  • Any currency; shareable link.

The compound interest formula

For a single deposit the formula is A = P × (1 + r/n)^(n × t), where P is the starting amount, r the yearly rate as a decimal, n the number of times interest is compounded per year and t the number of years. For 10,000 at 5% compounded monthly for 10 years: A = 10,000 × (1 + 0.05/12)^120 = 16,470.09, so the interest earned is 6,470.09. With continuous compounding the formula becomes A = P × e^(r × t).

How often interest compounds

More frequent compounding earns a little more, because interest starts earning interest sooner. The difference is real but smaller than most people expect. Here is 10,000 at 5% for 10 years.

CompoundingBalance after 10 yearsEffective annual rate
Yearly16,288.955.000%
Half-yearly16,386.165.0625%
Quarterly16,436.195.095%
Monthly16,470.095.116%
Daily16,486.655.127%
Continuously16,487.215.127%

The power of monthly deposits

Regular saving usually matters more than the starting amount. Depositing 200 a month for 30 years at 7% compounded monthly adds up to 72,000 in deposits but grows to about 244,000, because the early deposits compound for decades. Starting ten years later and saving for only 20 years gives about 104,000. The calculator assumes each deposit earns the same effective monthly rate from the month it is paid; choose Start of month if you save at the beginning of each month, which earns one extra month of interest on every deposit.

APY, the Rule of 72 and inflation

The effective annual rate, also called APY or AER, is the yearly rate that would give the same result with yearly compounding; it lets you compare accounts that compound differently. The Rule of 72 estimates doubling time: divide 72 by the rate, so money at 6% doubles in about 12 years (the exact figure is 11.9). Inflation works the other way: at 3% inflation, prices double in about 24 years, so the calculator can divide your result by the growth in prices to show it in today's money.

What the calculator doesn't include

Real savings and investments are affected by taxes on interest, account fees, rates that change over time and, for shares and funds, returns that go up and down from year to year. Use the result as an estimate to compare scenarios, not as a promise of what an account or investment will pay. This calculator is for information only and is not financial advice.

Frequently asked questions

What is compound interest?

Interest that is added to your balance and then earns interest itself. Over time this makes savings grow faster than with simple interest, which is only paid on the original amount.

How much will 10,000 grow to at 5% for 10 years?

16,470.09 with monthly compounding, or 16,288.95 with yearly compounding. Enter your own figures to see the result for your account.

Does daily compounding make a big difference?

Only a little. At 5%, daily compounding gives an effective rate of 5.127% versus 5.116% for monthly compounding.

What is the Rule of 72?

A shortcut for doubling time: 72 divided by the interest rate. At 8%, money doubles in about 9 years.

When are monthly deposits added?

At the end of each month by default. Choose Start of month if you deposit at the beginning; each deposit then earns one more month of interest.

What does the inflation option do?

It divides the result by the rise in prices over the period, showing what the final balance would buy in today's money.

Can I download the yearly table?

Yes. Click Download CSV to get deposits, interest and balance for every year, ready for Excel or Google Sheets.

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