Compound Interest Calculator
See how much money you can make with compound interest. Calculate savings growth with regular contributions and different compounding frequencies.
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Future Value
Compound vs Simple Interest
See the power of compounding over time with $10,000 at 7% interest:
| Years | Simple Interest | Compound Interest | Difference |
|---|---|---|---|
| 5 Years | $13,500 | $14,026 | +$526 |
| 10 Years | $17,000 | $19,672 | +$2,672 |
| 20 Years | $24,000 | $38,697 | +$14,697 |
| 30 Years | $31,000 | $76,123 | +$45,123 |
Start Earning Compound Interest Today
High-yield savings accounts offer up to 5.3% APY. Compare rates and open an account in minutes.
Compare High-Yield Savings →What is Compound Interest?
Compound interest is interest calculated on the initial principal and also on the accumulated interest of previous periods. It’s often called “interest on interest” and accelerates the growth of your money over time.
The Rule of 72
To estimate how long it takes to double your money, divide 72 by your interest rate. At 8% interest, your money doubles every 9 years (72 ÷ 8 = 9). This shows why starting early is crucial.
Compounding Frequency Matters
Daily compounding earns more than monthly, which earns more than annually. The more frequent the compounding, the faster your money grows. Look for savings accounts with daily compounding.
Start Early, Even Small
Starting with $100/month at age 25 vs 35 can mean $200,000+ difference by retirement. Time is your biggest advantage with compound interest.