Compound Interest Calculator
Calculate how your money grows with compound interest. See the power of compounding with regular contributions over time.
Added each compounding period
Future Value
$54,713.58
Total Contributions
$34,000.00
Total Interest Earned
$20,713.58
Growth Breakdown
Contributions (62%)Interest (38%)
| Year | Balance | Contributions | Interest Earned |
|---|---|---|---|
| 1 | $13,201.42 | $12,400.00 | $801.42 |
| 2 | $16,634.27 | $14,800.00 | $1,834.27 |
| 3 | $20,315.28 | $17,200.00 | $3,115.28 |
| 4 | $24,262.39 | $19,600.00 | $4,662.39 |
| 5 | $28,494.83 | $22,000.00 | $6,494.83 |
| 6 | $33,033.24 | $24,400.00 | $8,633.24 |
| 7 | $37,899.74 | $26,800.00 | $11,099.74 |
| 8 | $43,118.03 | $29,200.00 | $13,918.03 |
| 9 | $48,713.55 | $31,600.00 | $17,113.55 |
| 10 | $54,713.58 | $34,000.00 | $20,713.58 |
Frequently Asked Questions
What is compound interest?+
Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. Unlike simple interest, your earnings generate their own earnings, creating exponential growth over time.
How does compounding frequency affect returns?+
More frequent compounding (daily vs annually) results in slightly higher returns because interest starts earning interest sooner. The difference is most noticeable at higher interest rates and longer time periods.
What is the Rule of 72?+
The Rule of 72 estimates how long it takes to double your money: divide 72 by the annual interest rate. At 7% annual return, your money roughly doubles every 10.3 years (72 ÷ 7 = 10.3).
Are the results guaranteed?+
No. This calculator assumes a fixed interest rate, which is useful for savings accounts and bonds. Investment returns (stocks, funds) vary year to year. Use the average historical return for long-term projections.