Compound interest calculator
Start with a lump sum, add something every month, and watch interest earn interest.
Growth year by year
What you put in, and what interest added on top.
- Total deposits
- Total interest
| Year | Total deposits | Total interest | Balance |
|---|
Questions people ask
What is compound interest?
Interest that is added to the balance and then earns interest itself. $10,000 at 6% a year becomes $10,600 after one year, then $11,236 after two, because the second year’s interest is paid on $10,600.
Does compounding frequency matter much?
A little. 6% compounded yearly gives 6.00% a year; compounded monthly it is 6.17%, and daily 6.18%. The rate and the time you leave the money invested matter far more.