See how your investments grow with compound interest. Includes monthly contribution support and yearly breakdown.
Compound interest is interest calculated on both the initial principal and the accumulated interest. Unlike simple interest, it grows exponentially over time.
How often interest is calculated and added to your principal. Daily compounding gives slightly more than monthly, which gives more than annual.
Monthly contributions dramatically increase your final balance. Even small regular contributions compound significantly over long periods.
Divide 72 by your annual interest rate to estimate how many years it takes to double your money. At 8% interest, money doubles in about 9 years.