This compounding interest calculator can show you how much you will need to save for retirement or any other purpose.
Just enter your initial deposit amount, the monthly contribution you plan to make, your assumed annual return and the number of years you will invest. Then press calculate and see how much money you will end up with many years later.
If you click on the ‘Show Amortization’ link you will be provided with a table which includes the additional interest you earn each month. By scrolling down this table you will clearly see how the interest increases month after month after month. This is the effect of compounding interest. |
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Compounding Interest Calculator |
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