Interest Calculator

How the calculation works

Choose simple interest, where interest is only earned on the original amount, or compound interest, where earned interest is added to the balance. A yearly table shows how the balance grows.

Formula used

Simple: A = P × (1 + r × t); Compound: A = P × (1 + r/n)^(n×t)

Example

$10,000 at 5% compounded monthly for 10 years grows to $16,470.09, an effective annual rate of 5.116%.