Compound Interest Calculator
Calculate how your investments grow over time with compound interest
Investment Summary
Final Balance
$54,915.51
Total Contributions
$34,000.00
Total Interest Earned
$20,915.51
Effective Annual Rate
7.23%
APY with compounding
Input Parameters
Initial Investment
$10,000.00
Monthly Contribution
$200.00
Annual Interest Rate
7%
Time Period
10 years
Year-by-Year Breakdown
| Year | Start Balance | Contributions | Interest | End Balance |
|---|---|---|---|---|
| 1 | $10,000.00 | $2,400.00 | $815.88 | $13,215.88 |
| 2 | $13,215.88 | $2,400.00 | $1,048.35 | $16,664.23 |
| 3 | $16,664.23 | $2,400.00 | $1,297.63 | $20,361.86 |
| 4 | $20,361.86 | $2,400.00 | $1,564.94 | $24,326.80 |
| 5 | $24,326.80 | $2,400.00 | $1,851.56 | $28,578.36 |
| 6 | $28,578.36 | $2,400.00 | $2,158.91 | $33,137.26 |
| 7 | $33,137.26 | $2,400.00 | $2,488.47 | $38,025.74 |
| 8 | $38,025.74 | $2,400.00 | $2,841.86 | $43,267.59 |
| 9 | $43,267.59 | $2,400.00 | $3,220.79 | $48,888.39 |
| 10 | $48,888.39 | $2,400.00 | $3,627.12 | $54,915.51 |
$
Starting amount
$
Additional monthly investment
%
Expected annual return
years
Investment duration
How often interest compounds
Final Balance
$54,915.51
Total Contributions
$34,000.00
Total Interest Earned
$20,915.51
Effective Annual Rate
7.23%
APY with compounding
Growth Over Time
| Year | Balance | Contributions |
|---|---|---|
| Year 1 | $13,215.88 | $12,400.00 |
| Year 2 | $16,664.23 | $14,800.00 |
| Year 3 | $20,361.86 | $17,200.00 |
| Year 4 | $24,326.80 | $19,600.00 |
| Year 5 | $28,578.36 | $22,000.00 |
| Year 6 | $33,137.26 | $24,400.00 |
| Year 7 | $38,025.74 | $26,800.00 |
| Year 8 | $43,267.59 | $29,200.00 |
| Year 9 | $48,888.39 | $31,600.00 |
| Year 10 | $54,915.51 | $34,000.00 |
Year-by-Year Breakdown
| Year | Start Balance | Contributions | Interest | End Balance |
|---|---|---|---|---|
| 1 | $10,000.00 | $2,400.00 | $815.88 | $13,215.88 |
| 2 | $13,215.88 | $2,400.00 | $1,048.35 | $16,664.23 |
| 3 | $16,664.23 | $2,400.00 | $1,297.63 | $20,361.86 |
| 4 | $20,361.86 | $2,400.00 | $1,564.94 | $24,326.80 |
| 5 | $24,326.80 | $2,400.00 | $1,851.56 | $28,578.36 |
| 6 | $28,578.36 | $2,400.00 | $2,158.91 | $33,137.26 |
| 7 | $33,137.26 | $2,400.00 | $2,488.47 | $38,025.74 |
| 8 | $38,025.74 | $2,400.00 | $2,841.86 | $43,267.59 |
| 9 | $43,267.59 | $2,400.00 | $3,220.79 | $48,888.39 |
| 10 | $48,888.39 | $2,400.00 | $3,627.12 | $54,915.51 |
Calculator Assumptions
- Interest rate: Assumed constant over entire period; actual returns vary year-to-year
- Contributions: Monthly contributions made at month-end and earn interest from the following period
- Compounding: Interest compounds at selected frequency (more frequent = slightly higher returns)
- Taxes: Not deducted; actual returns depend on account type (tax-deferred, taxable, or tax-free)
- Fees: Not deducted; investment fees reduce actual returns by 0.1-1%+ annually
- Inflation: Not accounted for; real purchasing power will be lower than nominal balance
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