What do I need to enter?

Starting amount, Annual interest rate, Years, Compounding, Monthly contribution. Optional fields can be left blank.

Compound Interest Calculator

Grow a starting balance with compound interest and optional monthly contributions.

Future value

37,405.09

Growth by year

Year	Contributed	Interest	Balance
1	11,200.00	762.16	11,962.16
2	12,400.00	1,666.16	14,066.16
3	13,600.00	2,722.27	16,322.27
4	14,800.00	3,941.46	18,741.46
5	16,000.00	5,335.54	21,335.54
6	17,200.00	6,917.15	24,117.15
7	18,400.00	8,699.84	27,099.84
8	19,600.00	10,698.15	30,298.15
9	20,800.00	12,927.66	33,727.66
10	22,000.00	15,405.09	37,405.09

Monthly growth rate from the compounding
i = (1 + r ÷ n)^{to the power of n ÷ 12} − 1
(1 + 0.07 ÷ 12)^{to the power of 12 ÷ 12} − 1 = 0.005833333333
Number of months
m = years × 12
10 × 12 = 120
Growth of the starting amount
P × (1 + i)^{to the power of m}
10,000.00 × (1 + 0.005833333333)^{to the power of 120} = 20,096.6138
Growth of the monthly contributions
C × ((1 + i)^{to the power of m} − 1) ÷ i
100.00 × ((1 + 0.005833333333)^{to the power of 120} − 1) ÷ 0.005833333333 = 17,308.4807
Future value
FV = starting amount grown + contributions grown
20,096.6138 + 17,308.4807 = 37,405.09

Estimates for general information only — not financial advice.

FV = P(1 + i)^m + C((1 + i)^m − 1) ÷ i, with monthly rate i = (1 + r/n)^(n/12) − 1 and m = 12 × years

How does the compound interest calculator work?: FV = P(1 + i)^m + C((1 + i)^m − 1) ÷ i, with monthly rate i = (1 + r/n)^(n/12) − 1 and m = 12 × years.
What do I need to enter?: Starting amount, Annual interest rate, Years, Compounding, Monthly contribution. Optional fields can be left blank.