Interest Calculator

Find out how much interest your money earns with simple or compound interest and optional monthly deposits.

Ending balance

$16,288.95

Starting amount: $10,000.00
Total contributions: $0.00
Total interest earned: $6,288.95
Total deposits (start + contributions): $10,000.00
Interest rate: 5%
Length of time: 10 years
Compounding: Annually

Balance breakdown

Starting amount 61.4%
Interest 38.6%

Balance by year

Results are estimates and not financial advice.

Year-by-year balance

Year	Total deposits	Total interest	Balance
1	$10,000.00	$500.00	$10,500.00
2	$10,000.00	$1,025.00	$11,025.00
3	$10,000.00	$1,576.25	$11,576.25
4	$10,000.00	$2,155.06	$12,155.06
5	$10,000.00	$2,762.82	$12,762.82
6	$10,000.00	$3,400.96	$13,400.96
7	$10,000.00	$4,071.00	$14,071.00
8	$10,000.00	$4,774.55	$14,774.55
9	$10,000.00	$5,513.28	$15,513.28
10	$10,000.00	$6,288.95	$16,288.95

About the interest calculator

Interest is the price of using money. When you save or invest, you earn it; when you borrow, you pay it. Simple interest is calculated only on the amount you started with. Compound interest is calculated on the starting amount plus all the interest already earned, so growth speeds up over time.

Choose an interest type, an annual rate and a length of time. You can also add a monthly deposit. The result shows your ending balance, the interest earned, a bar chart of the balance for each year and a year-by-year table.

Formula

Simple: Interest = P × r × t
Compound: A = P × (1 + r ÷ n)^(n × t)
Continuous: A = P × e^(r × t)
P = starting amount, r = annual rate, t = years, n = compounding periods per year

Example

$10,000 at 5% compounded annually for 10 years grows to $10,000 × 1.05^10 = $16,288.95, so you earn $6,288.95 in interest. With simple interest the same deposit earns only $5,000.