How to use it
- Enter the initial amount and the monthly deposit (0 if none).
- Enter the interest rate, choose per year or per month, then the period.
- Read the final amount and open the table to see each year.
Questions and answers
What is compound interest?
Interest earned on both the money you put in and the interest already earned. Over long periods it grows much faster than simple interest.
Per year or per month: what is the difference?
Rates are quoted both ways. A 1% monthly rate is about 12.68% per year, not 12%, because of compounding. The calculator shows the equivalent rate.
Does it include taxes or inflation?
No. It is a simulation with a fixed rate, before taxes, fees and inflation, and it is not financial advice.