Compound Interest Calculator
See how your money grows over time with compound interest. Calculate the future value of your savings with regular contributions.
Breakdown
What is Compound Interest?
Compound interest is interest earned on both the initial principal and previously accumulated interest. Unlike simple interest, compound interest grows exponentially over time, making it one of the most powerful concepts in finance.
The Compound Interest Formula
The formula is: A = P(1 + r/n)^(nt), where A is the final amount, P is the principal, r is the annual interest rate, n is the number of times interest compounds per year, and t is the number of years.
The Rule of 72
A quick way to estimate how long it takes to double your money: divide 72 by the annual interest rate. At 7% interest, your money doubles approximately every 10.3 years.
Disclaimer
This calculator is for informational purposes only and should not be considered financial advice. Consult with a qualified financial professional before making any financial decisions.