Compound Interest Calculator - How to Calculate Total Amount

Round calculations to 2 decimal places

I deposited $ into an account with an annual interest rate of %, compounded annually for years...
What will be the total amount including interest?

Type of calculation: Calculating compound interest.
Calculator usage: Since there isn't a dedicated "Compound Interest CALCULATOR" in our list, you should use a scientific or financial calculator, entering the values into the compound interest formula. You can also use a spreadsheet program (e.g., Excel, Google Sheets) and the FV (Future Value) function.
Explanation using a formula:
We are looking for the final amount after 3 years with annual compounding.
General formula for compound interest: A = P * (1 + r/n)^(n*t)

A – future value
P – principal amount
r – annual interest rate (as a decimal)
n – number of times interest is compounded per year
t – number of years

In our case, compounding is annual, so n=1. The formula simplifies to: A = P * (1 + r)^t
Given:

P = $1000
r = 5% = 0.05
t = 3 years
n = 1 (annual compounding)

Calculation:
A = $1000 * (1 + 0.05/1)^(1*3)
A = $1000 * (1 + 0.05)^3
A = $1000 * (1.05)^3
A = $1000 * 1.157625
A = $1157.63
Calculating the interest earned: Interest = A - P = $1157.63 - $1000 = $157.63

Incomplete data. Enter all required values to see the calculations.

Answer: After 3 years, the total amount on the deposit will be $ . The interest earned will be $ .

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