Estimate how a starting balance grows over time with compounding interest and optional monthly contributions.
Compound interest means the interest you earn also earns interest, so a balance grows faster than with simple interest. This calculator applies the standard compound interest formula, then adds the future value of a series of equal monthly contributions made throughout the term.
The compounding frequency changes how often interest is calculated and added to your balance. More frequent compounding (daily vs. annually) produces a slightly higher return on the same nominal rate, since interest starts earning interest sooner.
Does this account for taxes or inflation?
No. The result is a nominal future value before taxes on any gains and before adjusting for inflation. Your real purchasing power will typically be lower than the number shown.
Are contributions added at the start or end of each period?
This calculator assumes contributions are made at the end of each month, which is the common convention for savings and retirement accounts.
Can I use this for a loan instead of savings?
This tool models growth of a balance, not loan amortization. A dedicated loan or mortgage calculator will give you accurate payment schedules.