💰 Finance Calculators
Compound Interest Calculator
Enter a starting amount, interest rate, time period, and compounding frequency to see how your money grows with compound interest.
%
$54,714
Future value
$34,000
Total contributed
$20,714
Interest earned
How to use this tool
- 1Enter your initial investment (principal).
- 2Enter the annual interest rate, number of years, and compounding frequency.
- 3Optionally add a regular monthly contribution to see its effect.
Frequently asked questions
- What's the difference between simple and compound interest?
- Simple interest is calculated only on the principal. Compound interest is calculated on the principal plus any interest already earned, so growth accelerates over time.
- How does compounding frequency affect returns?
- More frequent compounding (daily or monthly vs. annually) produces slightly higher returns for the same nominal interest rate, since interest starts earning interest sooner.