Compound interest calculator
Pick an initial amount, a monthly contribution and a rate. See how compound interest grows your money over time.
Inputs
Result
Final balance
$ 0
Total invested—
Interest earned—
Money multiplier—
| Year | Contributed | Interest (year) | Balance |
|---|
How compound interest works
Compound interest means the interest you earn each period also starts earning interest. Over decades, this snowball effect dwarfs the contributions themselves.
The formula used here is:
FV = P·(1+i)n + PMT·((1+i)n − 1)/i
Tips to make compounding work for you
- Start early: the first 10 years of contributions usually account for half of the long-term result.
- Be consistent: small contributions every month beat large irregular ones.
- Reinvest dividends: never withdraw the interest if your goal is the long term.
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