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Math in Daily Life
Putting Your Money to Work


Calculate Compound Interest

How much money will you have in twenty or thirty years if you deposit your money into an interest-bearing savings account now? Use the calculator below to compute how much you'll have when you take your money out.

1. How much money will you deposit each year?

$

2. What is the interest rate for your account?

Note: Interest rates vary. For the purposes of calculation, you might want to use the average rate of 5%.

    % annually

3. How long will you leave your money in the bank?

    years

   

Calculate: Try it for yourself

Browse Related Resources for links to other calculators on the Web.

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 "Math in Daily Life" is inspired by programs from For All Practical Purposes.

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