How to use this calculator
- Enter the starting amount and annual interest rate.
- Set the number of years and compounding frequency.
- Add a monthly contribution to model regular saving.
Example
$1,000 at 5% annual interest, compounded monthly for 10 years, grows to about $1,647.
How it works
The future value is calculated with the compound interest formula, and contributions are added at the end of each compounding period.
Frequently asked questions
What does compounding frequency mean?
It is how often interest is calculated and added to the balance. More frequent compounding grows slightly faster.
Is this financial advice?
No. This is a mathematical estimate only and does not account for taxes, fees or market risk.