Watch Your Wealth Grow
Discover the power of compound interest with our free calculator. Albert Einstein reportedly called compound interest the “eighth wonder of the world” – and for good reason. By earning interest on your interest, your money can grow exponentially over time. Enter your initial investment, monthly contributions, interest rate, and time period to see exactly how your wealth can accumulate.
How to Use This Calculator
- Enter your initial investment (principal)
- Add any regular monthly contributions
- Set the annual interest rate
- Choose compounding frequency (daily, monthly, quarterly, yearly)
- Enter the investment time period in years
- View your projected growth with detailed breakdown
Features
- Multiple compounding frequencies
- Regular contribution calculations
- Year-by-year growth breakdown
- Total interest earned calculation
- Visual growth chart
Frequently Asked Questions
What is compound interest?
Compound interest is interest calculated on both the initial principal and accumulated interest, causing your money to grow faster over time.
What's the best compounding frequency?
More frequent compounding yields slightly higher returns. Daily compounding earns more than monthly, but the difference is small.
What is the Rule of 72?
Divide 72 by your interest rate to estimate years to double your money. At 6% return, money doubles in about 12 years.