Final balance, total contributions and interest with compounding and regular deposits. Runs on your device.
With no deposits the balance is P × (1 + r ÷ n)^(n × t), where P is the starting amount, r the yearly rate as a fraction, n the number of times interest is compounded each year and t the years. For 10,000 at 5% compounded yearly for 10 years the balance is 16,288.95, so the interest is 6,288.95. Compounded monthly it is 16,470.09, half-yearly 16,386.16, quarterly 16,436.19 and daily over 365 days 16,486.65. More frequent compounding gives a little more, with smaller gains each time. The box How this was worked out shows the formula with your numbers.
Add a Regular contribution to see saving over time. Choose monthly or yearly, and whether it is made at the start or the end of each period. Money paid in at the start earns interest for one more period: 100 a month at 5%, compounded monthly for 10 years from a zero start, ends at 15,528.23 when paid at the end of each month and 15,592.93 when paid at the start. For 1,200 a year compounded yearly the end-of-year figure is 15,093.47. The page steps the balance month by month. Each month the balance is multiplied by (1 + r ÷ n)^(n ÷ 12), so interest between compounding dates is spread evenly and 12 months always make exactly one year of compounding. A bank that credits interest only on set dates may show slightly different figures for deposits made between those dates.
The year-by-year table shows what was paid in during each year, the interest earned in that year and the balance at its end. The last balance is the final balance. Years must be a whole number from 1 to 100, the rate from 0 to 100% and the amounts up to 1,000,000,000,000. A contribution of 0, or an empty box, means no deposits. The rate is assumed fixed, and the page takes nothing out for fees, tax or inflation. If the result would be too large to show, a message asks for a lower rate or fewer years. Amounts are rounded to 2 decimals only when shown. Nothing is stored or sent. This is an estimate, not financial advice.
balance = P × (1 + r ÷ n)^(n × t). With P = 10,000, r = 0.05, n = 1 and t = 10, the balance is 16,288.95. Set n to 12 and it becomes 16,470.09. The page shows the formula with your numbers.
A small one. On 10,000 at 5% for 10 years, yearly gives 16,288.95, quarterly 16,436.19, monthly 16,470.09 and daily 16,486.65. Going from yearly to monthly adds 181.14. Going from monthly to daily adds only 16.56.
The start earns one more month of interest on each deposit. Depositing 100 a month for 10 years at 5%, compounded monthly, ends at 15,592.93 at the start of each month and 15,528.23 at the end. The page shows both through the timing choice. It is an estimate, not financial advice.
No. Years must be a whole number from 1 to 100, and a decimal such as 2.5 shows a message. For a part year, use whole years and read the closest row of the table.
Banks credit interest on set dates and may treat deposits between those dates differently. This page spreads interest evenly between compounding dates. With yearly compounding and no deposits the two agree exactly: 16,288.95.