Calculate compound interest growth for your investments. Enter principal, interest rate, time period, and compounding frequency to see how your money grows over time. This free compound interest calculator shows year-by-year growth with detailed charts.
Type in the amount you are initially investing. This is your starting principal that will grow with compound interest.
Enter any regular monthly contributions you plan to add, along with the expected annual interest rate. Higher rates and regular contributions significantly boost growth.
Select the number of years for your investment. Click Calculate to see the future value, total contributions, total interest earned, and a detailed year-by-year breakdown.
Q: What is compound interest?
A: Compound interest is interest earned on both your original principal and the accumulated interest from previous periods, creating exponential growth over time.
Q: How often is interest compounded in this calculator?
A: This calculator uses monthly compounding, which is the most common frequency for savings accounts and investment products.
Q: Can I calculate without monthly contributions?
A: Yes, simply leave the Monthly Contribution field empty or set it to zero to calculate growth of a lump sum only.