Calculate how an investment grows over time with compound interest. Enter your principal, interest rate, duration, compounding frequency, and optional monthly contributions to see your final balance, total interest earned, and a year-by-year breakdown.
Enter your starting principal, annual interest rate percentage, and the number of years you plan to invest.
Choose a compounding frequency from the dropdown (monthly is the most common for savings accounts; daily is typical for high-yield accounts).
Optionally enter a monthly contribution to model regular deposits, then read your final balance, total interest, and the year-by-year table below.
What is Compound Interest Calculator?
Compound interest means you earn interest not just on your original principal but also on the interest already accumulated. The more frequently interest compounds — daily versus annually — the faster your balance grows because each compounding period's interest immediately starts earning interest of its own.
This calculator supports five compounding frequencies: annually, semiannually, quarterly, monthly, and daily. The optional monthly contribution field models a regular savings plan such as a retirement account or recurring investment deposit, showing how consistent contributions dramatically accelerate growth over time.
The year-by-year table makes it easy to see the power of compounding at a glance — interest earned typically grows each year even when contributions stay constant, because the base balance is larger. The total contributions column helps you understand exactly how much of the final balance came from your own deposits versus earned interest.
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FAQ
What is the difference between annual and daily compounding?
With annual compounding, interest is added to your balance once per year. With daily compounding, it is added 365 times per year. The more frequent the compounding, the slightly higher your ending balance — though the difference narrows as the frequency increases beyond monthly.
Does the monthly contribution get compounded too?
Yes. Each monthly contribution is added proportionally across the compounding periods in a year and immediately starts earning compound interest for all remaining periods.
What does 'total contributions' include?
Total contributions includes your original principal plus all monthly contributions made over the investment period. Subtracting this from the final balance gives you the total interest earned.
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