Compound Interest Calculator
Calculate compound interest growth with customizable compounding intervals. This compound interest calculator helps you compute the future value of your savings with monthly contributions and custom frequencies.
Formula & Math Logic
A = P(1 + r/n)^(nt) + PMT * [((1 + r/n)^(nt) - 1) / (r/n)], where PMT is monthly contribution.
Worked Calculation Example
$10,000 + $100/mo at 5% for 10 Years
Compounded monthly, ending balance is $32,063.02. Contributions total $12,000 and interest earned is $10,063.02.
Frequently Asked Questions (FAQ)
What is the difference between simple and compound interest?
Simple interest is calculated only on the principal. Compound interest earns interest on interest.
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