Calculators
Compound Interest Calculator with Monthly Deposits
See how savings grow with compound interest: enter a starting amount, interest rate, how often it compounds, the number of years and an optional monthly deposit to get the final balance and a year-by-year table. Estimates only.
- Final balance
- 16,470.09
- Total put in
- 10,000.00
- Interest earned
- 6,470.09
Principal 61%Interest 39%
Growth by year
| Year | Put in | Interest | Balance |
|---|---|---|---|
| 1 | 10,000.00 | 511.62 | 10,511.62 |
| 2 | 10,000.00 | 1,049.41 | 11,049.41 |
| 3 | 10,000.00 | 1,614.72 | 11,614.72 |
| 4 | 10,000.00 | 2,208.95 | 12,208.95 |
| 5 | 10,000.00 | 2,833.59 | 12,833.59 |
| 6 | 10,000.00 | 3,490.18 | 13,490.18 |
| 7 | 10,000.00 | 4,180.36 | 14,180.36 |
| 8 | 10,000.00 | 4,905.85 | 14,905.85 |
| 9 | 10,000.00 | 5,668.47 | 15,668.47 |
| 10 | 10,000.00 | 6,470.09 | 16,470.09 |
Estimates only, not financial advice. Real returns change over time, and taxes and fees aren't included. Your numbers stay on your device.
How to use the Compound Interest Calculator
- Enter your starting amount and the yearly interest rate.
- Choose how often interest is compounded and for how many years.
- Add a monthly deposit if you save regularly, then read the balance and the growth table.
Frequently asked questions
- What is compound interest?
- Interest that is added to your balance and then earns interest itself. Over time the growth speeds up, because each period's interest is worked out on a bigger amount.
- What is the compound interest formula?
- A = P × (1 + r/n)^(n × t), where P is the starting amount, r the yearly rate as a decimal, n the number of times interest is compounded each year and t the number of years. 1,000 at 5% compounded yearly for 10 years grows to about 1,628.89.
- Does compounding more often make a difference?
- A little. Monthly compounding earns slightly more than yearly at the same rate; daily compounding adds only a tiny bit more again.
- When are monthly deposits added?
- At the end of each month, after that month's interest.
- Are these results guaranteed?
- No. They're estimates only, not financial advice. Real rates change over time, and taxes and fees aren't included.
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