One of the easiest ways to calculate how compound interest will grow your funds is to estimate it using the Rule of 72. Divide 72 by the annual interest rate, or APY, offered.

When using our compound interest calculator, you'll want to use the key components we talked about earlier: principal amount, interest rate, compounding frequency, time period, and, optionally ...

Doing the math and crunching the numbers when it comes to figuring out your loan's interest can be complicated. Here's how to ...

Changing the loan amount in the calculator back to $200,000, and trying out a few interest rates, shows that an interest rate of 4.11% would produce that same $968 monthly payment.

The more frequently interest is compounded, the more you'll earn. Using the above example, say you invest $1,000 in a five-CD with a 5% annual interest rate, but this CD accrues compound interest.

If the interest continues to compound each month at the same rate, then at the end of one year, the account would actually earn about $407.42, for an ending balance of $10,407.42.

If you’re an investor looking to understand the benefits of compound interest, consider the example set by the legendary Warren Buffett. The 93-year-old’s net worth has grown to $137 billion ...

If the same account offered compound interest with daily compounding, you’d have $14,917.92 after 10 years. Note that credit unions usually refer to both simple and compound interest as dividends.

For example, say you deposit $1,000 in an account with a 4% interest rate. If interest is calculated monthly, you'll earn $40 interest the first month the account is open, bringing your balance to ...