See how your money grows over time with compound interest and optional monthly contributions.
Monthly compounding is used. Estimates only — not financial advice. Verify with your lender/advisor.
A compound interest calculator projects how your money grows when interest is earned on both your principal and previously earned interest, including any regular monthly contributions you add along the way.
With regular contributions, future value is A = P x (1 + i)^n + PMT x (((1 + i)^n - 1) / i), where P is the starting principal, PMT is the periodic contribution, i is the periodic interest rate, and n is the number of periods. This calculator compounds monthly. Estimates only, not financial advice.
Simple interest is earned only on the original principal. Compound interest is earned on the principal plus all previously earned interest, so your balance grows faster over time as the interest itself starts earning interest.
Yes. The more often interest compounds, the more you earn at the same annual rate. This tool uses monthly compounding; daily compounding would yield slightly more and annual compounding slightly less.