Finance tool
Compound Interest Calculator
Calculate the final amount and interest earned when money grows with compound interest.
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How To Use Compound Interest Calculator
Quick notes to help you understand the result before you act on it.
Overview
Use this compound interest calculator to estimate how a lump sum can grow over time.
Enter the starting principal, annual rate, time period, and how often interest compounds each year.
Compound Interest Formula
- Amount = principal x (1 + rate / compounds per year) raised to compounds per year x years.
- Interest earned = final amount - principal.
- More frequent compounding usually increases the final amount slightly.
Practical Tips
- Use annual percentage rate, not monthly rate.
- For monthly compounding, enter 12 compounds per year.
- This is an estimate and does not include taxes, fees, or changing rates.
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FAQ
Common questions about this tool.
Does this include regular monthly deposits?
No. This calculator estimates growth for a single starting principal.
Is this financial advice?
No. It is a simple calculator for educational estimates.