The Compounding Interest Calculator
The Solving Calculator

For Instructions & Tips, see below

Leave the question number you want to solve for blank

1) Amount of money initially in account \$
2) APY of the account (e.g. 6.04%) %
3) Years account will continue Year(s)
4) Future value of account  \$  OR the amount of interest you want to earn \$

General Instructions and Tips for Use
• This calculator is to solve questions like, how much money will I need to invest in a 3 year CD that offers a 6% APY rate to earn \$1,000 in interest? Or, how many years will it take my investment to be worth \$1,000,000 if I initially invested \$5,000 and am getting a 8% APY rate?
• You must fill out three of the four questions above. The question you leave blank will be calculated and the answer will be displayed once you hit the Do Calculation button. In the case of Question 4, you may fill out either the Future Value of the account (including initial deposit and earned interest) or the Amount of Interest , not both. If you enter numbers in both fields, the calculation will not be performed.
• In order to fill out any online form such as this, you can use the tab button to move forward from field to field and shift+tab to move backwards from field to field.

What do I enter for each of these fields?

 1) Put the amount of money that is either currently in the account, or the amount that will be initially deposited in this field. 2) Put the APY (Annual Percent Yield) of the account in percent format (e.g. 6.877) in this field. 3) Put the amount of time in years that the account will be open for in this field.  If you need to enter the amount of time in months, then you will need to convert it to years by taking the time in months and dividing by 12 (e.g. 8 months: 8 months / 12 = 0.667 years).  If you need to enter a time in terms of months and years,  you will have to take the partial months and convert them to parts of a year then add the parts of a year to the number of whole years (e.g. 2 Years and 4 months: 4 months / 12 = 0.333 Years; 2 Years + 0.333 Years = 2.333 Years). 4) For this question number, you may choose to either fill out what you would like the total future value of the account to be (including initial deposit and earned interest), or the amount of interest you would like to earn.  You may only fill out one or the other, not both.