WeVividWeVividCalculate compound interest over any period and compounding frequency.
A = P × (1 + r/n)^(n×t), where P is the principal, r is the annual rate, n is how many times per year interest compounds, and t is the number of years. Unlike simple interest, each period's interest is added back to the principal, so future interest is earned on a growing base.
Yes — more frequent compounding (monthly vs. annually, for example) earns slightly more interest for the same nominal rate, because interest starts earning interest sooner.