Advertisement
Compound Interest Calculator
Watch savings grow when interest earns interest.
Future balance-
- Total deposits
- -
- Interest earned
- -
Advertisement
Year-by-year growth
| Year | Deposits | Interest | Balance |
|---|
The compound interest formula
For a single deposit, A = P(1 + r/n)nt, where P is the principal, r the annual rate, n the number of compounding periods per year and t the number of years. Regular contributions are added each month and then earn interest for the rest of the period.
The rule of 72
Divide 72 by your interest rate to estimate how many years it takes to double your money. At 7%, money doubles in about 10 years.