See how a starting amount and regular monthly additions grow when interest is compounded.
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How it is worked out
- The yearly rate is converted to an equivalent monthly rate for the compounding you choose.
- Monthly additions are made at the end of each month.
- Interest earned = final amount − total invested.
Questions people ask
How often should interest compound?
More frequent compounding gives a slightly higher amount at the same yearly rate. Compare the options in the calculator.
What is the difference from simple interest?
Simple interest is paid only on the original amount. Compound interest is also earned on interest already added.
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