Calculate compound interest on savings or investments with the standard compounding formula.
| Input | Result |
|---|---|
| $1,000 at 5% for 10 yrs, monthly | $1,647.01 |
| $5,000 at 8% for 5 yrs, yearly | $7,346.64 |
| $10,000 at 3% for 20 yrs, monthly | $18,206.11 |
Compound interest is interest earned on both the original principal and on previously accumulated interest, so the balance grows faster over time.
Yes. The more often interest compounds, the higher the final amount for the same nominal rate.
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