You can switch the compounding frequency between annual, semi-annual, quarterly, monthly and daily to see how much extra growth more frequent compounding delivers. Try doubling the contribution rather than chasing a slightly higher rate - consistency usually matters more. For a goal-oriented view of the same maths, try the Savings Calculator.
Calculator
Formula used
FV = P(1 + r/n)^(nt) + PMT × [ ((1 + r/n)^(nt) − 1) / (r/n) ]
How to use the Compound Interest Calculator
- Enter the amount you are starting with today.
- Add how much you can deposit every month.
- Set the expected annual rate of return.
- Choose the time horizon and the compounding frequency.
- Read the future value and split between contributions and interest.
About this tool
The Compound Interest Calculator is built for speed and accuracy: every calculation runs in your browser, so your data never leaves your device and the result updates as you type. It works equally well on a phone, a tablet or a desktop, and it is free to use as many times as you like.
Common use cases
- Projecting the growth of a high-yield savings account.
- Showing how starting 10 years earlier changes the outcome.
- Comparing daily against monthly compounding on the same rate.
- Estimating what a monthly investment plan becomes by retirement.
Tips for the best result
- Use the latest figures you have - even a small change in rate or term can shift the outcome by hundreds.
- For annual figures, divide by 12 to get a monthly number you can compare with the result.
- Bookmark this page and revisit the calculation as the inputs change.
Frequently asked questions
Why is the effective APY higher than my rate?
Because compounding credits interest on interest. A 7% rate compounded daily produces roughly 7.25% effective annual growth, and the calculator shows both numbers.
Are taxes and inflation included?
No. The projection is nominal. To estimate purchasing power, subtract your expected inflation rate from the annual rate before calculating.
What if my contribution grows over time?
Enter an average contribution, or run the calculation again with a higher amount to model a future raise stepping up your deposits.
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