%
years
Future value$58,785.61
Total deposited$34,000
Interest earned$24,786
Money multiplied1.73×
Effective yearly rate8.30%
● calculated in 0.10 msruns in your browserupdated 07:35:30
Visualise
Growth over time
Breakdown
Year-by-year growth
| Year | Deposited | Interest earned | Balance |
|---|---|---|---|
| Year 1 | $12,400 | $920 | $13,320 |
| Year 2 | $14,800 | $2,116 | $16,916 |
| Year 3 | $17,200 | $3,609 | $20,809 |
| Year 4 | $19,600 | $5,427 | $25,027 |
| Year 5 | $22,000 | $7,594 | $29,594 |
| Year 6 | $24,400 | $10,140 | $34,540 |
| Year 7 | $26,800 | $13,097 | $39,897 |
| Year 8 | $29,200 | $16,498 | $45,698 |
| Year 9 | $31,600 | $20,381 | $51,981 |
| Year 10 | $34,000 | $24,786 | $58,786 |
The maths
Formula
This is the exact calculation the tool runs.
A = P × (1 + r/n)n×t + monthly deposits, each compounded
PStarting amount
rYearly rate ÷ 100
nCompounding times per year
tNumber of years
PMTMonthly deposit
AFinal balance
Practice
Worked examples
Click "Try it" to load an example into the tool.
Retirement savings
Starting amount: 5000Monthly deposit: 300Yearly interest rate: 7 %Years: 25 years
$271,648.60
Education fund
Starting amount: 1000Monthly deposit: 100Yearly interest rate: 6 %Years: 15 years
$31,535.96
One-time deposit
Starting amount: 20000Monthly deposit: 0Yearly interest rate: 5 %Years: 10 yearsCompounding: Yearly
$32,577.89
Step by step
How to use the Compound Interest Calculator
Enter your starting amount
The money you invest today. Use 0 if you start from nothing.
Add a monthly deposit
How much you will add every month.
Set rate, years and compounding
Use the yearly rate your bank or fund gives and how often it compounds.
Questions
Frequently asked questions
What is compound interest?
Interest that is added to your balance and then earns interest itself. Over many years this makes savings grow much faster than simple interest.
Does compounding frequency matter?
Yes, a little. Monthly compounding earns slightly more than yearly at the same rate. The "Effective yearly rate" shows the real yearly growth.
Is the result guaranteed?
No. Investment returns change from year to year. Use the result as an estimate, not a promise.