A compound interest calculator shows how your money can grow over time when your growth also earns growth. In other words, you earn returns on your original money and on the returns you already earned.

Example: If you start with $1,000 and earn 8% per year, that money becomes about $2,158.92 in 10 years, about $4,660 in 20 years, and about $10,063 in 30 years, even if you never add another dollar.

That is why time is a force multiplier: growth has more time to build on itself. That is why investing beats traditional saving. Your savings account that earns 0.01% would be eaten away by inflation.

Use the calculator below to estimate how your money could grow over time with consistent contributions and compound growth, and to compare saving only versus investing.

• Enter your starting deposit, years, expected return, and monthly contribution

• Choose monthly or annual compounding

• Click Run to see the results and watch the chart animate

• Click a year in the table to jump the chart

• Export the table if you want to save your results