Savings Calculator
Estimate how savings may grow from an initial balance, monthly deposits, annual interest rate, and time horizon.
Finance
OpenCompound Interest Calculator
Calculate compound interest and final amount from principal, annual rate, time, and compounding frequency.
All processing happens locally in your browser. Your input is never sent to a server or saved by Wraplet.
Compound interest result
2,009.66 final amount
- Interest earned
- 1,009.66
Finance calculators provide general estimates only and are not financial, tax, lending, or investment advice.
Formula or method
A = P(1 + r/n)^(nt)
A is final amount, P is principal, r is annual rate as a decimal, n is compounds per year, and t is years.
Interest earned = final amount - principal.
Inputs
Enter principal, annual rate, years, and how many times interest compounds each year. Use 12 for monthly compounding.
Result
The result shows the estimated final amount and the interest earned from compounding.
Use cases
- Model interest growth for savings, investments, education examples, or long-term comparison scenarios.
How to use
Enter the starting principal.
Add the annual rate, number of years, and compounds per year.
Review the final amount and estimated interest earned.
Examples
Compound Interest Calculator example
Monthly compounding at 7% for 10 years grows 1,000 to about 2,009.66 before taxes, fees, or rate changes.
Principal 1000, annual rate 7%, time 10 years, compounds per year 12
2,009.66 final amount, 1,009.66 interest earned
Frequently asked questions
Is compound interest the same as simple interest?
No. Compound interest adds interest to the balance, so future interest can be earned on earlier interest.
What should I enter for monthly compounding?
Enter 12 as the compounds per year value.
Does this include deposits after the principal?
No. This compound interest calculator uses a single starting principal. Use the savings calculator for monthly deposits.
Is this investment advice?
No. It is a math estimate. Actual returns can vary because of market performance, taxes, fees, inflation, and changing rates.