Free compound interest calculator. See how much a deposit grows with yearly, monthly or daily compounding.
With compounding, interest is added to your balance and then earns interest itself. Example: 10,000 at 6% for 10 years compounded monthly grows to about 18,194. More frequent compounding gives a slightly higher result.
Interest earned on both the original amount and the interest already added.
A = P × (1 + r/n)^(n×t), where P is the start amount, r the yearly rate, n the compounds per year and t the years.