Compound interest grows an investment faster than simple interest because each period's interest is calculated on the growing balance, not just the original amount. This calculator applies the standard compound interest formula to show your final balance and total interest earned over any time period.
Try changing the compounding frequency — monthly versus annually can make a noticeable difference over long time horizons, especially at higher interest rates.
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Frequently asked questions
What's the difference between compounding frequencies?
More frequent compounding (daily vs. annually) yields slightly more growth for the same stated annual rate, since interest starts earning interest sooner.
Does this account for additional regular contributions?
No, this calculates growth from a single initial lump sum; it doesn't add recurring deposits over time.