Interest Calculator - Simple & Compound Interest
Calculate simple and compound interest to see how your money grows over time. Compare interest earnings with different compound frequencies.
Part of Yoopla's 445+ free browser tools.
💡 Tip: Compound interest grows your money faster than simple interest. The more frequently interest compounds, the more you earn!
How to Use Interest Calculator
- 1
Enter the principal amount you want to invest.
- 2
Enter the annual interest rate as a percentage.
- 3
Specify the time period in years.
- 4
Select how often interest compounds (annually, monthly, daily, etc.).
- 5
Click Calculate to see both simple and compound interest results.
Frequently Asked Questions
What is the difference between simple and compound interest?▾
Simple interest is calculated only on the principal amount. Compound interest is calculated on the principal plus accumulated interest, so you earn interest on interest.
How does compound frequency affect my earnings?▾
The more frequently interest compounds, the more you earn. Daily compounding earns more than monthly, which earns more than annual compounding.
Is this calculator accurate for investments?▾
Yes, this calculator uses standard financial formulas. However, actual investment returns may vary based on market conditions and fees.
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