Calculate the future value of your investments. See how your money grows over time with the power of compound interest and regular contributions.
Compound interest is the interest on savings calculated on both the initial principal and the accumulated interest from previous periods. Einstein famously called it the "eighth wonder of the world" because of its ability to exponentially grow wealth over time.
The standard formula for compound interest is: A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per unit t
t = the time the money is invested or borrowed for, in years