bank Compound Interest Calculator
Calculate how your money grows over time with compound interest. See the power of reinvesting your earnings and watch your wealth multiply.
Enter values and click Calculate.
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Frequently Asked Questions - Compound Interest Calculator
What is compound interest?
Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. It allows your money to grow exponentially over time because you earn interest on your interest.
How does compound frequency affect my returns?
The more frequently interest is compounded, the more you earn. Daily compounding yields slightly more than monthly, which yields more than annual compounding. The difference becomes significant with larger sums and longer time periods.
What is the rule of 72?
The Rule of 72 is a quick way to estimate how long it takes for your investment to double. Divide 72 by your annual interest rate. For example, at 6% interest, your money doubles in about 12 years (72 / 6 = 12).
When should I start investing for compound interest?
The best time to start is now. Time is the most powerful factor in compound interest. Starting 10 years earlier can mean hundreds of thousands more in retirement due to the exponential nature of compounding.
How is compound interest different from simple interest?
Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal plus all accumulated interest. Over long periods, compound interest dramatically outperforms simple interest.
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