Investment Details
Future Value
After 10 years
Growth Over Time
Year-by-Year Breakdown
| Year | Contributions | Interest | Balance |
|---|
See Your Growth Plan
Turn this calculation into a real investment plan. See projections, set milestones, and track progress.
What is Compound Interest?
Compound interest is the interest calculated on both the initial principal and the accumulated interest from previous periods. It's often called "interest on interest" and can significantly accelerate the growth of your investments over time.
The Formula
The compound interest formula used in this calculator is:
Where: P = Principal, r = Annual rate, n = Compounding frequency, t = Years, PMT = Monthly contribution
The Power of Starting Early
Due to compound interest, starting to invest early can make a dramatic difference. Even small amounts invested consistently over a long period can grow substantially more than larger amounts invested over a shorter period.