Calculators
Compound Interest Calculator
See how your savings or investments grow over time with compound interest. Enter principal, interest rate, time, and compounding frequency.
Final Amount
$20,096.61
Interest Earned
$10,096.61
Usage notes
- The Rule of 72: divide 72 by the annual rate to estimate how many years it takes to double your money.
- More frequent compounding (daily vs. annually) yields slightly more interest.
- This calculator does not include additional regular contributions — it calculates growth of a single lump sum.
Related pages
How to Use This Tool
- 1Enter your initial investment (principal).
- 2Set the annual interest rate as a percentage.
- 3Enter the number of years.
- 4Choose how often interest compounds (monthly, quarterly, etc.).
- 5The calculator shows the final amount and total interest earned.
Frequently Asked Questions
- What is compound interest?
- Interest calculated on both the initial principal and the accumulated interest from previous periods. It makes your money grow faster than simple interest.
- What is the Rule of 72?
- A quick estimation: divide 72 by your annual interest rate to get the approximate number of years to double your investment. At 8%, it takes about 9 years.
- Does compounding frequency matter much?
- Yes, but the difference shrinks at higher frequencies. Monthly vs. annually can make a noticeable difference; daily vs. monthly is minimal.
- Does this include regular deposits?
- No. This calculates growth of a single initial investment. For regular contribution calculations, a more advanced savings calculator would be needed.