What is compound interest?

Interest calculated on both the initial principal and the accumulated interest from previous periods. It makes your money grow faster than simple interest.

What is the Rule of 72?

A quick estimation: divide 72 by your annual interest rate to get the approximate number of years to double your investment. At 8%, it takes about 9 years.

Does compounding frequency matter much?

Yes, but the difference shrinks at higher frequencies. Monthly vs. annually can make a noticeable difference; daily vs. monthly is minimal.

Does this include regular deposits?

No. This calculates growth of a single initial investment. For regular contribution calculations, a more advanced savings calculator would be needed.

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Compound Interest Calculator

See how your savings or investments grow over time with compound interest. Enter principal, interest rate, time, and compounding frequency.

Principal ($)Annual Rate (%)Time (years)Compounding

Final Amount

$20,096.61

Interest Earned

$10,096.61