Compound Interest Calculator
Calculate compound interest with year-by-year growth breakdown
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Growth Chart
Year-by-Year Breakdown
| Year | Starting Balance | Contributions | Interest Earned | Ending Balance |
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How to Use Compound Interest Calculator
- Enter the principal amount and annual interest rate
- Choose compounding frequency (monthly, quarterly, etc.)
- Set the time period and view the year-by-year growth table
Frequently Asked Questions
What is compound interest?
Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. It makes your money grow faster than simple interest.
How does compounding frequency affect returns?
More frequent compounding (e.g., daily vs. annually) yields slightly higher returns because interest is calculated and added to the principal more often.
What formula is used?
A = P(1 + r/n)^(nt), where P is principal, r is annual rate, n is compounds per year, and t is time in years.