| Year | Balance at Start of Year | Debits in Year | Total Debits | Interest In Year | Total Interest | Balance at end of Year |
|---|---|---|---|---|---|---|
| 1 | £10,000.00 | £1,200.00 | £11,200.00 | £653.13 | £653.13 | £11,853.13 |
| 2 | £11,853.13 | £1,200.00 | £12,400.00 | £766.80 | £1,419.93 | £13,819.93 |
| 3 | £13,819.93 | £1,200.00 | £13,600.00 | £887.52 | £2,307.45 | £15,907.45 |
| 4 | £15,907.45 | £1,200.00 | £14,800.00 | £1,015.62 | £3,323.07 | £18,123.07 |
| 5 | £18,123.07 | £1,200.00 | £16,000.00 | £1,151.55 | £4,474.62 | £20,474.62 |
| 6 | £20,474.62 | £1,200.00 | £17,200.00 | £1,295.88 | £5,770.50 | £22,970.50 |
| 7 | £22,970.50 | £1,200.00 | £18,400.00 | £1,449.06 | £7,219.56 | £25,619.56 |
| 8 | £25,619.56 | £1,200.00 | £19,600.00 | £1,611.60 | £8,831.16 | £28,431.16 |
| 9 | £28,431.16 | £1,200.00 | £20,800.00 | £1,784.13 | £10,615.29 | £31,415.29 |
| 10 | £31,415.29 | £1,200.00 | £22,000.00 | £1,967.22 | £12,582.51 | £34,582.51 |
Compound interest is the effect of collecting interest on previous interest.
With this calculator, any deposits and withdrawals are applied at the start of each month; Interest is calculated at the end of each month, and applied based on the frequency
Please note: This calculator is not guarenteed to be 100% accurate and is only provided to illustrate the compounding affect of interest.
You can access the compound interest calculator results using this JSON API endpoint:
https://maniacalrobot.co.uk/calculators/compound_interest.json?capital=10000.0&frequency=quarterly&monthly_deposit=100.0&rate=6.0&term=10