EC
EverCalc
💰 Finance & Money

Compound Interest Calculator

Calculate compound interest growth over time. See how investments grow with daily, monthly, or annual compounding.

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%
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Final Balance

$144,573

Total Contributions

$58,000

Interest Earned

$86,573

💡 Rule of 72: At 7% annual interest, your money doubles approximately every 10.3 years.

Balance growth over 20 years

Year 0
Balance: $10,000
Contributed: $10,000
Interest: $0
Year 1
Balance: $13,201
Contributed: $12,400
Interest: $801
Year 2
Balance: $16,634
Contributed: $14,800
Interest: $1,834
Year 3
Balance: $20,315
Contributed: $17,200
Interest: $3,115
Year 4
Balance: $24,262
Contributed: $19,600
Interest: $4,662
Year 5
Balance: $28,495
Contributed: $22,000
Interest: $6,495
Year 6
Balance: $33,033
Contributed: $24,400
Interest: $8,633
Year 7
Balance: $37,900
Contributed: $26,800
Interest: $11,100
Year 8
Balance: $43,118
Contributed: $29,200
Interest: $13,918
Year 9
Balance: $48,714
Contributed: $31,600
Interest: $17,114
Year 10
Balance: $54,714
Contributed: $34,000
Interest: $20,714
Year 11
Balance: $61,147
Contributed: $36,400
Interest: $24,747
Year 12
Balance: $68,046
Contributed: $38,800
Interest: $29,246
Year 13
Balance: $75,444
Contributed: $41,200
Interest: $34,244
Year 14
Balance: $83,376
Contributed: $43,600
Interest: $39,776
Year 15
Balance: $91,882
Contributed: $46,000
Interest: $45,882
Year 16
Balance: $101,003
Contributed: $48,400
Interest: $52,603
Year 17
Balance: $110,783
Contributed: $50,800
Interest: $59,983
Year 18
Balance: $121,270
Contributed: $53,200
Interest: $68,070
Year 19
Balance: $132,515
Contributed: $55,600
Interest: $76,915
Year 20
Balance: $144,573
Contributed: $58,000
Interest: $86,573
ContributionsInterest earned

Frequently Asked Questions

What is compound interest?

Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. Unlike simple interest, it causes investments to grow exponentially over time — often described as 'interest on interest'.

How often should interest compound?

More frequent compounding means faster growth. Daily compounding yields slightly more than monthly, which yields more than annual. For long-term investments the difference compounds significantly over decades.

What is the Rule of 72?

The Rule of 72 is a quick mental math trick: divide 72 by your annual interest rate to estimate how many years it takes to double your money. At 6% interest, your money doubles in roughly 12 years.

What's the difference between APR and APY?

APR (Annual Percentage Rate) doesn't account for compounding within the year. APY (Annual Percentage Yield) does, making it a more accurate measure of real returns when interest compounds more frequently than annually.