Compound Interest Savings

Free Compound Interest Savings calculator with clear step-by-step results.

About Compound Interest Savings

Compounding makes both the initial deposit and each monthly contribution grow over time.

Formula

FV = P(1+r)^n + M × ((1+r)^n − 1)/r

Worked example

With the default values below, Compound Interest Savings returns Future Value of $17,175.24. Change any input above and every figure here is recalculated in your browser.

Inputs used

Starting depositminimum 0 $: 1,000 $
Monthly depositminimum 0 $: 100 $
Annual interest rateaccepts 0–30: 5
Yearsaccepts 1–60: 10

Results

Future Value: $17,175.24
Total Deposited: $13,000.00
Interest Earned: $4,175.24

Step by step

1Values used
2Formula
3Future Value= $17,175.24
4Total Deposited= $13,000.00
5Interest Earned= $4,175.24

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax or fees or charges into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

How does this calculator work?