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Home / Compound interest / $100 a month, 10 years

$100 a Month for 10 Years

This page follows monthly deposits of $100 for 10 years at 6 percent. It starts with an empty account. Edit the deposit, the return or the time.

After 10 years the balance reaches $16,388. Interest supplies $4,388 of it.

$
$
%
years
%
Final balance
$16,388
Total you put in
$12,000
Interest earned
$4,388
Year by year
YearTotal put inBalance
1$1,200$1,234
2$2,400$2,543
3$3,600$3,934
4$4,800$5,410
5$6,000$6,977
6$7,200$8,641
7$8,400$10,407
8$9,600$12,283
9$10,800$14,274
10$12,000$16,388
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How the growth is worked out

The calculation runs month by month. The yearly return of 6 percent becomes a monthly rate of 0.5 percent. Each month the balance grows by that rate and then the deposit of $100 is added. Every deposit keeps growing for the rest of the 10 years.

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Worked example

A monthly deposit of $100 for 10 years comes to $12,000 of your own money. The ending balance is $16,388.

The deposits alone come to $12,000. Compounding turns that into $16,388, a gain of $4,388.

Questions about this calculator

What if you stopped the $100 deposits halfway through 10 years at 6 percent?

After 5 years the balance is $6,977. Left alone for the second half, it would grow to $9,411 instead of $16,388.

What would it take to match $16,388 over 10 years if you started 5 years later at 6 percent?

You would need $234.89 a month for 5 years instead of $100 for 10. Starting early does much of the work.

How much would $200 a month reach over 10 years at 6 percent?

$32,776 at 6 percent. That is 2 times the balance from $100 a month.

What if the return on $100 a month over 10 years were 5 percent instead of 6?

The balance would be $15,528 instead of $16,388. A return one point higher gives $17,308.

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This page is for education only and is not financial or tax advice.