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Compound interest on 10,000 at 5% for 10 years

Investing 10,000 at 5% per year, compounded monthly, grows to 16,470.09 after 10 years — 6,470.09 in interest.

Grows to 16,470.09

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Full breakdown

Future value (monthly compounding)16,470.09
Interest earned6,470.09
Growth multiple1.65×
Same with simple interest15,000
Extra from compounding1,470.09

Step-by-step working

  1. Monthly rate = 5% ÷ 12 = 0.4167%
  2. Periods = 10 × 12 = 120
  3. A = 10000 × (1 + 0.004167)^120 = 16,470.09

A = P × (1 + r/n)^(n·t), n = 12

Try your own numbers with the Compound Interest Calculator.

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