Compound Interest Calculator
Calculate future investment value with compound interest and regular monthly contributions. Choose compounding frequency and see year-by-year growth.
$20,096.61
Future Value
$10,000.00
Total Invested
$10,096.61
Interest Earned
101.0%
Total Return
| Year | Balance | Interest Earned |
|---|---|---|
| 1 | $10,722.90 | $722.90 |
| 2 | $11,498.06 | $1,498.06 |
| 3 | $12,329.26 | $2,329.26 |
| 4 | $13,220.54 | $3,220.54 |
| 5 | $14,176.25 | $4,176.25 |
| 6 | $15,201.06 | $5,201.06 |
| 7 | $16,299.94 | $6,299.94 |
| 8 | $17,478.26 | $7,478.26 |
| 9 | $18,741.77 | $8,741.77 |
| 10 | $20,096.61 | $10,096.61 |
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v2.4.0-Stable4
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Knowledge Base
Frequently Asked Questions
What is the compound interest formula?↓
A = P(1 + r/n)^(nt), where P = principal, r = annual interest rate (decimal), n = compounding frequency per year, t = time in years. With regular contributions, each payment also compounds over the remaining period.
How does compounding frequency affect growth?↓
More frequent compounding yields slightly more. $10,000 at 7% for 10 years: annual compounding = $19,672; monthly compounding = $20,097; daily = $20,137. The difference is small but grows with time and rate.
What is the rule of 72?↓
Divide 72 by the annual interest rate to estimate how long it takes to double your money. At 7% annual return: 72 ÷ 7 ≈ 10.3 years. At 10%: 72 ÷ 10 = 7.2 years.
How much should I save per month to reach $1 million?↓
At 7% annual return compounded monthly, starting from $0: saving $500/month = ~32 years; $1,000/month = ~27 years; $2,000/month = ~22 years. Starting earlier dramatically reduces the monthly amount needed.