Compound Interest Calculator
Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. This 'interest on interest' effect causes wealth to grow exponentially over time.
Our calculator shows the growth trajectory of your investment with different compounding frequencies and optional regular contributions.
The Power of Compound Interest
The key variables are: principal amount, interest rate, compounding frequency and time horizon. More frequent compounding (daily vs. annually) yields slightly higher returns.
The Rule of 72
A quick estimation: divide 72 by the annual interest rate to find approximately how many years it takes to double your money. For example, at 8% interest, your money doubles in about 9 years.
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