Wulaoer Tools

Deposit Interest Calculator

Work out simple or compound interest on a deposit and see the final balance.

Deposit Interest Calculator
%

Years

Extra months

Amounts are rounded to cents.

Simple interest

Interest earned only on the original principal.

Final amount
$11,500.00
Total interest
$1,500.00
Term (years)
3
Compound interest

Interest is reinvested and earns further interest.

Final amount
$11,614.72
Total interest
$1,614.72
Term (years)
3

How to use

  1. 1Enter the principal, annual rate and term.
  2. 2Pick simple or compound interest and the compounding frequency.
  3. 3Compare the interest earned and the final balance.

Examples

10,000 at 3% for 5 years
Compound interest (yearly) beats simple interest slightly over time.