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Compound interest on 1,000 at 5% for 30 years

Investing 1,000 at 5% per year, compounded monthly, grows to 4,467.74 after 30 years — 3,467.74 in interest.

Grows to 4,467.74

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Full breakdown

Future value (monthly compounding)4,467.74
Interest earned3,467.74
Growth multiple4.47×
Same with simple interest2,500
Extra from compounding1,967.74

Step-by-step working

  1. Monthly rate = 5% ÷ 12 = 0.4167%
  2. Periods = 30 × 12 = 360
  3. A = 1000 × (1 + 0.004167)^360 = 4,467.74

A = P × (1 + r/n)^(n·t), n = 12

Try your own numbers with the Compound Interest Calculator.

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