Savings Calculator
Future balance from a starting amount and monthly deposits.
See how money grows when interest earns interest. The compound interest calculator handles yearly to continuous compounding, optional monthly deposits, and charts every year.
A = P × (1 + r ÷ n)^(n × t) continuous: A = P × e^(r × t) contributions: D × ((1 + i)^m − 1) ÷ i effective annual rate = (1 + r ÷ n)^n − 1
Less than people think. At 5%, moving from yearly to monthly compounding adds about 1.1% to the ending balance over 10 years, and daily adds only a little more. The rate itself and the time you leave the money invested matter far more.
Interest calculated on the starting amount plus the interest already added, so the balance grows faster each year.
With monthly compounding, $16,470.09. With yearly compounding, $16,288.95.
The yearly growth once compounding is included. 5% compounded monthly is an effective 5.1162%, the same as an APY.
Often used together with the Compound Interest Calculator.
Future balance from a starting amount and monthly deposits.
Simple interest I = P × r × t, solved for any value.
Years to double money, by the rule of 72 and exactly.