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Compound interest calculator
1,000 at 5% a year, compounded monthly for 10 years, becomes 1,647.01. The interest is 647.01. Tax and extra deposits are left out. The numbers stay in this browser.
Why this exists
The same yearly rate grows more when it compounds more often. One year at 5% is 1,050.95 quarterly and 1,051.27 daily.
The savings page handles Korean tax and a monthly deposit. This page compounds one lump sum.
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01How to use it
Enter the amount, the yearly rate, the years, and the extra months. An empty months field counts as 0.
Monthly, yearly, quarterly, and daily change only how many times the rate is applied.
Copy puts the future value, the interest, and the principal on the clipboard. Closing the tab clears the numbers.
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02What you get
1,000 at 5% for 10 years, monthly: future value 1,647.01, interest 647.01.
100 at 10% for 1 year, yearly: future value 110.00, interest 10.00. 1,000 at 0% keeps interest at 0.00.
1,000 at 5% for 1 year: quarterly is 1,050.95 and daily is 1,051.27.
Entered1,000 · 5% · 10 years
monthly 10 years 1,647.01 · interest 647.01 yearly 1 year at 10% 110.00 · interest 10.00 quarterly 1 year 1,050.95 daily 1 year 1,051.27 -
03Worth knowing
A decimal rate stops at four places. 5.25 is read and 5.25001 stops.
The amount is above zero with at most two decimal places. Commas are removed before reading.
12 in the months field stops. That length belongs in the years field as 1.
This page is the arithmetic. It does not offer a deposit product.
Questions
- QWhat is 10 years at 5% monthly?
- AOn 1,000 the future value is 1,647.01 and the interest is 647.01.
- QHow many days are in daily?
- AA year is 365 days. 29 February is not added.
- QDoes this take a monthly deposit?
- ANo. It compounds one lump sum and does not take tax off.
- QAre the numbers saved?
- ANo. They stay in this browser and are not sent to a server.
How this page works it out
This page compounds one lump sum. Future value is the amount times (1 + yearly rate ÷ 100 ÷ times) raised to times times the years. Years are the total months divided by 12. Monthly uses 12, yearly uses 1, quarterly uses 4, and daily uses 365.
1,000 at 5% compounded monthly for 10 years is 1,647.01, and the interest is 647.01. 100 at 10% compounded yearly for 1 year is 110.00, and the interest is 10.00. 1,000 at 5% for 1 year is 1,050.95 compounded quarterly and 1,051.27 compounded daily. A rate of 0 leaves the interest at 0.00. Money rounds to the nearest 0.01, and a half moves away from zero. A leap day’s 366th day is not added.
The term runs from 1 month to 100 years, and the months field runs from 0 to 11. The yearly rate runs from 0 to 100, with at most four decimal places. Tax, fees, later deposits, and a loan payment are left out. This page does not offer a deposit product. The numbers stay in this browser and are not sent to a server.