Albert Einstein reportedly called compound interest the “eighth wonder of the world.” Use this calculator to see exactly how your savings can grow exponentially when you give them time and consistency.
Start CalculatingAdjust the inputs and watch your results update instantly.
Visualize the power of compounding as your money grows year by year.
See exactly how your money compounds each year.
| Year | Deposits | Interest | Balance |
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Understanding the mechanics behind your money’s growth.
Unlike simple interest (which is only earned on your original deposit), compound interest earns interest on your interest. Each period, your balance grows, and the next round of interest is calculated on the new, larger amount.
Time is the most powerful ingredient in compounding. Someone who starts investing $200/month at age 25 will have significantly more at retirement than someone who starts the same amount at 35 — even though they only invested 10 more years of contributions.
Want a quick estimate of how long it takes to double your money? Divide 72 by your annual interest rate. At 7% growth, your money doubles in roughly 10.3 years. At 10%, it doubles in about 7.2 years.
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