Compound Interest Calculator
Calculate compound interest growth for savings and investments with a year-by-year breakdown.
Final Balance
$20,096.61
Total Contributed
$10,000.00
Interest Earned
$10,096.61
| Year | Balance | Total Contributed | Interest Earned |
|---|---|---|---|
| Year 1 | $10,722.90 | $10,000.00 | $722.90 |
| Year 2 | $11,498.06 | $10,000.00 | $1,498.06 |
| Year 3 | $12,329.26 | $10,000.00 | $2,329.26 |
| Year 4 | $13,220.54 | $10,000.00 | $3,220.54 |
| Year 5 | $14,176.25 | $10,000.00 | $4,176.25 |
| Year 6 | $15,201.06 | $10,000.00 | $5,201.06 |
| Year 7 | $16,299.94 | $10,000.00 | $6,299.94 |
| Year 8 | $17,478.26 | $10,000.00 | $7,478.26 |
| Year 9 | $18,741.77 | $10,000.00 | $8,741.77 |
| Year 10 | $20,096.61 | $10,000.00 | $10,096.61 |
What is the Free Compound Interest Calculator?
The free Compound Interest Calculator shows you exactly how money grows over time when interest is earned on both the original principal and the interest already accumulated. Enter your starting amount, annual interest rate, compounding frequency, investment period, and optional monthly contributions — and the tool instantly shows your final balance, total interest earned, and a year-by-year growth table so you can see the power of compounding play out row by row.
- → Plan a savings goal — find out how much a lump sum grows over 5, 10, or 20 years
- → Model the impact of regular monthly contributions on long-term investment growth
- → Compare weekly, monthly, and annual compounding to see how frequency affects returns
- → Estimate a retirement nest egg based on current savings and expected returns
- → Show students or clients the "snowball effect" of interest compounding on interest
How to Use the Free Compound Interest Calculator
- 1 Enter your Starting Principal — the initial amount you are investing or saving.
- 2 Set the Annual Interest Rate (%) — for example, 8% for a typical equity-linked savings account.
- 3 Choose how often interest compounds using the Compounding Frequency dropdown (daily, monthly, quarterly, annually).
- 4 Enter the Investment Period in years.
- 5 Optionally add a Monthly Contribution to model regular deposits.
- 6 Read the results: Final Balance, Total Interest Earned, and the year-by-year table showing balance growth.
Key Features
- 📈 Year-by-year tableSee your balance, contributions, and interest earned for every year of the investment.
- 💳 Monthly contributionsModel regular deposits alongside a starting lump sum for realistic savings plans.
- 🔄 Multiple frequenciesCompare daily, monthly, quarterly, and annual compounding side by side.
- 🆓 Free, no signupCompletely free — no account, no data sent to any server.
Example Usage
Example Input
Principal: $10,000 | Rate: 8% p.a. | Compounding: Monthly | Period: 10 years | Monthly contribution: $200
Example Output
Final Balance: $50,970.77 Total Contributions: $34,000.00 Total Interest Earned: $16,970.77
Frequently Asked Questions about the Free Compound Interest Calculator
- What is the free Compound Interest Calculator?
- Calculate compound interest growth for savings and investments with a year-by-year breakdown.
- Is the Compound Interest Calculator free to use?
- Yes, the Compound Interest Calculator is completely free. No account, subscription, or signup is required — ever.
- Does my data get uploaded anywhere?
- No. The Compound Interest Calculator runs entirely in your browser. Your data is never sent to any server.
- Does it work offline?
- Yes. Once the page has loaded, the tool works without an internet connection.
- Which browsers are supported?
- All modern browsers — Chrome, Firefox, Safari, and Edge. No plugins or extensions required.
- What is the difference between simple interest and compound interest?
- Simple interest is calculated only on the original principal each period. Compound interest is calculated on the principal plus any interest already accumulated — so each period's interest is larger than the last. Over long periods, the difference is dramatic. $10,000 at 8% simple interest for 20 years gives $26,000. At 8% compound interest (monthly) it gives over $49,000.
- How often should interest compound to maximise growth?
- More frequent compounding produces slightly higher returns. Daily compounding earns marginally more than monthly, which earns more than annual. In practice, the difference between daily and monthly compounding is small — the rate and time period matter far more. Most savings accounts compound monthly or daily.
- Does this calculator account for inflation?
- No — it shows nominal growth. To estimate real (inflation-adjusted) returns, subtract the expected inflation rate from your interest rate. For example, if the interest rate is 8% and inflation is 3%, use 5% as the "real" rate to see purchasing-power growth.
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