Result
Final amount
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This calculation is for informational purposes only and does not replace advice from a qualified professional. Formulas and rates may not fit your exact situation — double-check the figures before making decisions.
How it is calculated
Compound interest formula: final amount = starting amount × (1 + rate ÷ 100 ÷ n) ^ (n × years), where n is how many times a year it compounds. Interest earned = final amount − starting amount.
The more often it compounds at the same nominal rate, the higher the final amount: interest starts earning interest sooner. Over several years, the gap between yearly and daily compounding is not a rounding error — it's a real, noticeable amount.
Effective annual rate = ((1 + rate ÷ 100 ÷ n) ^ n − 1) × 100% — the nominal yearly rate you'd need without compounding to get the same result. It's the right number for comparing offers with different compounding frequencies.