Interest Calculator

Simple or compound interest on a balance with optional regular deposits.

Details

Interest type

Starting amount$

Interest rateper year%Timeyears

CompoundingMonthly depositoptional$

Result

Ending balance

$12,833.59

after 5 years

Total interest

$2,833.59

Total deposited

$10,000.00

DepositsInterest

Growth over time

BalanceContributions

Year-by-year breakdown

Yearly growth
Year	Total contributed	Total earnings	Balance
1	$10,000.00	$511.62	$10,511.62
2	$10,000.00	$1,049.41	$11,049.41
3	$10,000.00	$1,614.72	$11,614.72
4	$10,000.00	$2,208.95	$12,208.95
5	$10,000.00	$2,833.59	$12,833.59

About the Interest Calculator

Find out how much interest your money earns. Switch between simple interest (interest on the original amount only) and compound interest (interest on interest), and add regular deposits to see your ending balance.

How to use it

Choose simple or compound interest.
Enter the starting amount, rate and time.
For compound interest, choose the compounding frequency and any regular deposit.

Formula & method

Simple: I = P × r × t
Compound: A = P(1 + r/k)^(k·t)

Frequently asked questions

What is the difference between simple and compound interest?

Simple interest is calculated only on the principal. Compound interest is calculated on the principal plus interest already earned, so it grows faster over time.

Results are estimates for general information only and are not financial, tax, legal or medical advice. Please confirm important decisions with a qualified professional.