The Compound Interest Calculator is a web tool that helps users project how their investments grow over time. It calculates compound interest and can include optional monthly contributions.
To use it, enter your starting amount in the "Initial Principal" field. Add your planned monthly contribution and your expected annual interest rate as a percentage. Then, click "Calculate Returns" to see the projection.
Key features include calculating compound interest with monthly investments and providing a detailed 30-year growth projection. It offers a year-by-year breakdown showing principal, interest earned, and total balance. The interface is user-friendly, responsive, and displays results in a clear, real-time format.
This tool is useful for estimating future growth for retirement planning, understanding how monthly contributions affect long-term results, and comparing different investment strategies with varying rates and contribution amounts.
For common questions: all monetary values are in dollars ($). Enter the interest rate as a percentage (e.g., 7 for 7%). The maximum projection period is 30 years.