A compound interest calculator shows how a savings balance grows over time as interest is added to your principal and then earns interest of its own.
Current savings is the amount you already have in the account.
Years to save is the length of time you plan to leave the money in the account.
Rate of return is the annual percentage yield, or APY, your account earns.
Contribution amount is how much you plan to add to the account each period.
Contribution frequency is how often you plan to add to the account.
Compounding frequency is how often interest is calculated and added to your balance.
After 10 years with 4.5% APY and monthly compounding.
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These results are estimates, not predictions. They're calculated from the figures you entered and assume your rate of return and inflation rate hold steady every year, which real markets don't do. Change any input and the result changes. Use this to compare scenarios, not to plan around a specific number.
| Year | Contributions | Interest | Balance |
|---|---|---|---|
| Start | — | — | $10,000.00 |
| 1 | $6,000.00 | $595.27 | $16,595.27 |
| 2 | $12,000.00 | $1,487.32 | $23,487.32 |
| 3 | $18,000.00 | $2,689.52 | $30,689.52 |
| 4 | $24,000.00 | $4,215.81 | $38,215.81 |
| 5 | $30,000.00 | $6,080.79 | $46,080.79 |
| 6 | $36,000.00 | $8,299.69 | $54,299.69 |
| 7 | $42,000.00 | $10,888.44 | $62,888.44 |
| 8 | $48,000.00 | $13,863.69 | $71,863.69 |
| 9 | $54,000.00 | $17,242.82 | $81,242.82 |
| 10 | $60,000.00 | $21,044.02 | $91,044.02 |
Contributions and interest shown are cumulative totals at the end of each year.
Enter your current savings, years to save, rate of return, contribution amount, contribution frequency, and compounding frequency. The calculator shows your estimated final balance, total contributions, and total interest earned.
Current savings is the amount you already have in the account.
Years to save is the length of time you plan to leave the money in the account.
Rate of return is the annual percentage yield, or APY, your account earns.
Contribution amount and frequency is how much you plan to add to the account and how often, such as weekly, biweekly, monthly, or annually.
Compounding frequency is how often interest is calculated and added to your balance, such as daily, monthly, quarterly, or annually.
The formula for compound interest is: Amount = P(1 + r/n)^(nt), where P is your initial deposit, r is the interest rate, n is the number of compounding periods per year, and t is the number of years.
More frequent compounding produces slightly more growth, since interest is calculated and added to the balance more often, which means each new calculation is based on a marginally larger amount.
Savings account APYs are variable, meaning the rate can change at any time, unlike a certificate of deposit, which locks in a fixed rate for the full term. Savings and CD rates both tend to move with the Federal Reserve's benchmark rate. The Fed cut rates three times in late 2025, and savings rates have continued trending downward into 2026.
Because savings account APYs are variable, the rate you enter today is only a snapshot, not a guarantee for the full period you're calculating. If you want a fixed, predictable outcome instead, a CD locks in a set rate for its term. Either way, it's worth rerunning the calculator periodically with an updated rate as market conditions change, rather than relying on a single projection made months or years earlier.
A fiduciary financial advisor can help you decide whether a savings account, a CD, or a mix of both fits your timeline and goals. Matching with an advisor is free and comes with no pressure to commit.
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