Our compound interest calculator can help determine how an initial amount of money, known as the principal, will grow over time when it earns interest that is compounded at regular intervals.
Page written by Ian Hawkins. Last reviewed on May 19, 2025. Next review due July 1, 2026.
This calculator is intended for illustration purposes only and exact payment terms should be agreed with a lender before taking out a loan.
Compound interest refers to the process where interest is calculated not only on the initial principal amount but also on the accumulated interest from previous periods.
Interest is added to the principal, and following interest calculations are based on the updated total. This compounding effect leads to exponential growth in the value of an investment over time or an increase in the total amount owed on a loan.
Our calculator requires you to input the initial amount (principal), the interest rate, the number of times interest is compounded per year, and the time period for which the interest will be calculated. With this information, the calculator can provide you with an estimate of the final amount that will be accrued.
This tool is particularly useful for individuals, investors, and financial professionals to plan and strategise for savings, investments, business loans, and other financial endeavours. It enables one to see how different interest rates and compounding frequencies can impact the growth of their money over time.
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