See how your money grows with compound interest. Add monthly contributions to model regular saving or investing.
Compound interest means you earn interest on your interest — not just your original principal. Over time, this creates exponential growth. Einstein reportedly called it the "eighth wonder of the world."
A = P(1 + r/n)^(nt), where P is principal, r is annual rate, n is compounding periods per year, and t is years.
More frequent compounding means slightly more growth. The difference between monthly and daily compounding is usually small — what matters most is the rate and time horizon.