How to use it
Enter the starting principal, annual interest rate, number of years, and how often interest compounds per year (1 = yearly, 12 = monthly, 365 = daily).
Formula
A = P × (1 + r ÷ n)n × tExamples
Example: $1,000 at 7% compounded monthly for 10 years → about $2,009.66 (vs $1,700 simple).
Example: $500 at 5% yearly for 20 years → about $1,326.65.