Use our compound interest calculator to estimate how your money grows over time with interest. See total value and interest earned based on your inputs.
Compound interest is the interest you earn on both your original investment and the interest that gets added over time. This type of interest accelerates your savings growth and is often used in long-term financial planning. Unlike simple interest, which is only based on the initial amount, compound interest builds up faster especially when compounded frequently.
Use this free compound interest calculator to see how your investment grows over time.
It's a simple way to forecast your savings or plan for long-term financial goals.
Suppose you invest $5,000 at a 6% annual interest rate, compounded monthly, for 15 years. Here's how your money would grow:
| Year | Balance |
|---|---|
| 1 | $5,309.89 |
| 5 | $6,744.25 |
| 10 | $9,095.85 |
| 15 | $12,070.43 |
Want to calculate compound interest manually? Use this formula:
A = P × (1 + r/n)nt
Where:
This compound interest formula helps you calculate how much your investment will grow with reinvested interest.
Compound interest means earning interest on both the money you invest and the interest it accumulates. It creates a snowball effect for your savings.
Simple interest is based only on the original amount. Compound interest includes interest on interest, which results in faster growth.
The more frequent the compounding (e.g., monthly or daily), the more you earn. This is because your interest is calculated and added more often.
Yes. You can manually calculate it using the formula which we have provide above. You can place your principal, rate, time, and compounding frequency.