Formula
The deposit compounds once each year:
Maturity = deposit × (1 + rate) ^ years
Simple interest, which does not compound, is on its own page.
Assumptions
- You leave the deposit in place for the full term.
- The rate compounds annually.
Worked example
A $10,000 deposit at 5% compounded yearly for 2 years matures at $11,025.00.
Input definitions
- Deposit
- The single amount you place at the start.
Limitations
This is an estimate, not a loan offer, tax filing, or investment advice. The currency control changes the symbol only.
Questions
What is $10,000 at 5% for two years?
It is $10,000 × 1.05 × 1.05, which is $11,025.
Can I add monthly deposits?
Use the savings calculator. This page is one deposit.