Compound Interest Calculator — Calculate Growth Over Time
Free compound interest calculator. See how your money grows with compound interest over time.
Formula: P × (1 + r/n)^(n×t)
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What Is This Calculator?
Compound interest is interest calculated on the initial principal and on the accumulated interest from previous periods. It is the mechanism that makes investments grow exponentially over time. Albert Einstein reportedly called it the eighth wonder of the world.
How to Calculate
To calculate compound interest: 1) Enter your starting principal. 2) Enter the annual interest rate. 3) Enter the number of years. 4) Enter how often interest compounds (monthly = 12, quarterly = 4, annually = 1). Formula: A = P × (1 + r/n)^(n×t).
Examples
Example: $10,000 at 7% interest compounded monthly for 10 years: A = $10,000 × (1 + 0.07/12)^(12×10) = $20,096.61. Your money doubles in about 10 years.
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