Using the Compound Interest Calculator
What compound growth means
Compound growth occurs when returns are added to a balance and future returns are calculated on that larger balance. Over time, both the original amount and prior growth can contribute to the projected total. Regular deposits add another source of growth.
How to use this calculator
Enter a starting balance, monthly contribution, assumed annual return, and number of years. The projection assumes the same return throughout, monthly compounding, and deposits at the end of each month. Change one input at a time to see how contribution size, time, or the assumed rate affects the estimate.
Understand the limits of a projection
Actual savings account rates can change, and investment returns fluctuate. This estimate excludes taxes, fees, and inflation. A projected balance is not a guarantee or investment recommendation. For a savings goal, compare the result with our savings goal calculator.
Frequently asked questions
How often is interest compounded here?
Monthly. The calculator converts the entered annual rate to a monthly rate for the projection.
Are monthly deposits made at the start or end of each month?
At the end of each month in this estimate.
Is the projected return guaranteed?
No. The rate is an assumption. Actual interest rates and investment returns may be higher or lower, and investments can lose value.
Related tools: browse all free money calculators, or see how My Clear Money builds and explains its estimates.