Compound Interest Calculator
Calculate compound interest with monthly contributions. See how your money grows over time.
$54,714
Total Value
$34,000
Total Contributed
$20,714
Interest Earned
Contributions: 62.1%Interest: 37.9%
Year-by-year breakdown
| Year | Contributed | Value | Interest |
|---|---|---|---|
| 1 | $12,400 | $13,201 | $801 |
| 2 | $14,800 | $16,634 | $1,834 |
| 3 | $17,200 | $20,315 | $3,115 |
| 4 | $19,600 | $24,262 | $4,662 |
| 5 | $22,000 | $28,495 | $6,495 |
| 6 | $24,400 | $33,033 | $8,633 |
| 7 | $26,800 | $37,900 | $11,100 |
| 8 | $29,200 | $43,118 | $13,918 |
| 9 | $31,600 | $48,714 | $17,114 |
| 10 | $34,000 | $54,714 | $20,714 |
Key Features
- Calculate the future value of an investment with regular monthly contributions.
- Choose from annual, quarterly, monthly or daily compounding frequencies.
- See a year-by-year breakdown of principal, contributions and earned interest.
- Visualises the power of compounding with a clear growth chart.
- Compare scenarios by adjusting rate, time horizon or contribution amount.
- Works for savings accounts, investment portfolios and retirement planning.
Frequently Asked Questions
What is compound interest?
Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods, creating exponential growth compared to simple interest.
What is the rule of 72?
Divide 72 by your annual interest rate to estimate how many years it takes to double your money. At 6% annual return, your investment doubles in roughly 12 years.
How often does compound interest compound?
It depends on the account. Savings accounts often compound daily or monthly; bonds may compound semi-annually. More frequent compounding results in slightly higher returns.