![]() However, this does not take into account the effect of any fees in the account. The amount is how much money you will have at the end of the period you selected. When you click on the Calculate button, your results display immediately below. Note that if you are entering an APY rather than a simple interest rate, choose “Annually” because APY already accounts for the frequency of compounding. Select a compounding frequency from the menu: Daily, Monthly, Semi-Annually, or Annually. You can click on one of these so the calculator will automatically show how their interest rate will grow your money, or you can enter a rate yourself. Once you enter a deposit amount, the calculator will display some featured bank offers. Don’t bother with dollar signs or commas – the calculator will take care of those automatically.Įnter the number of years you will keep that money on deposit in your account.Įnter the interest rate on your current bank account or one you are considering. ![]() Here’s what to enter:Įnter the amount you have available to save at the beginning. ![]() Simply enter your information and hit Tab to jump to the next field. There are four input boxes in the compound interest calculator. Here are some step-by-step instructions for how to use this calculator: Compound Interest Calculator Instructions
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