Compound Interest Calculator: Yearly, Quarterly, Monthly or Daily
Enter the principal, the yearly rate, the time and how often interest is added. The final amount, the interest earned and the formula steps appear at once.
- Nothing you type is stored
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Amount after interest
₹2,15,892
- Interest
- ₹1,15,892
- In words
- 2.16 lakh
- Effective yearly rate
- 8%
- Simple interest would be
- ₹80,000
Show working
- A = P × (1 + r/k)^(k × t)
- A = 100000 × (1 + 0.08/1)^(1 × 10)
- A = ₹215892.50; CI = ₹115892.50
Year by year
| Year | Interest that year | Balance |
|---|---|---|
| 1 | ₹8,000 | ₹1,08,000 |
| 2 | ₹8,640 | ₹1,16,640 |
| 3 | ₹9,331 | ₹1,25,971 |
| 4 | ₹10,078 | ₹1,36,049 |
| 5 | ₹10,884 | ₹1,46,933 |
| 6 | ₹11,755 | ₹1,58,687 |
| 7 | ₹12,695 | ₹1,71,382 |
| 8 | ₹13,711 | ₹1,85,093 |
| 9 | ₹14,807 | ₹1,99,900 |
| 10 | ₹15,992 | ₹2,15,892 |
How to use
- Enter the principal and the yearly interest rate.
- Enter the time in years (decimals such as 2.5 are fine).
- Pick how often interest is compounded and read the amount and steps.
Good to know
Compound interest uses A = P × (1 + r/k)^(k × t), where r is the yearly rate as a decimal, k the number of times interest is added each year and t the years. Interest is added to the balance, so the next period earns interest on it too.
More frequent compounding raises the effective yearly rate: 8% compounded quarterly is 8.243% a year, monthly 8.300%. Indian bank FDs compound quarterly, PPF and NSC yearly, and most savings accounts credit interest quarterly.
The card “Simple interest would be” shows the gap between the two methods; the gap widens sharply with time. This is also the basis of school maths questions on CI, which the working steps follow.
Questions
What is the compound interest formula?
A = P(1 + r/n)^(nt) and CI = A − P, where n is the number of compounding periods per year.
What is the difference between simple and compound interest?
Simple interest is earned only on the principal; compound interest is also earned on past interest.
How do I find CI for 2 years quarterly?
Use k = 4 and t = 2, so the power is 8: A = P × (1 + r/4)^8.
What is the effective annual rate?
The yearly rate that gives the same result with yearly compounding: (1 + r/k)^k − 1.
Is my data stored?
No. Everything is calculated on your device.