CalculatorsCompound interest
Compound interest calculator
What a sum grows to at a fixed rate, compounded yearly to daily, with an optional amount added every period.
15 for 15%
Optional; leave blank for none
Future value₦7,724,447.78At the end of the term
- Paid inStarting amount and additions
- ₦2,900,000.00
- GrowthInterest earned
- ₦4,824,447.78
- Effective annual rateMonthly compounding
- 16.0755%
Arithmetic on the figures entered. Not investment advice.
Year by year
The value at the end of each year, what has been paid in and the growth on it, to the nearest naira. The CSV has the unrounded figures.
| Year | Value | Paid in | Growth |
|---|---|---|---|
| 1 | 837,584 | 740,000 | 97,584 |
| 2 | 1,229,437 | 980,000 | 249,437 |
| 3 | 1,684,282 | 1,220,000 | 464,282 |
| 4 | 2,212,245 | 1,460,000 | 752,245 |
| 5 | 2,825,081 | 1,700,000 | 1,125,081 |
| 6 | 3,536,433 | 1,940,000 | 1,596,433 |
| 7 | 4,362,137 | 2,180,000 | 2,182,137 |
| 8 | 5,320,578 | 2,420,000 | 2,900,578 |
| 9 | 6,433,092 | 2,660,000 | 3,773,092 |
| 10 | 7,724,448 | 2,900,000 | 4,824,448 |
How it is calculated
FV = A × (1 + r/m)^(m × t) + C × ((1 + r/m)^(m × t) − 1) ÷ (r/m)effective annual rate = (1 + r/m)^m − 1A starting amount, r annual rate, m compounding periods a year, t years, C added each periodInterest is added m times a year at the annual rate divided by m, and earns interest from then on. The amount added is paid at the end of every compounding period, so monthly compounding with ₦20,000 added means ₦20,000 a month. At a rate of 0% the additions simply accumulate.
The rate is held fixed for the whole term, and no tax or fees are deducted, so enter the rate that is actually credited.