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Home / Compound interest / $1,000 for 10 years

$1,000 Compound Interest Over 10 Years

This page shows what a single deposit of $1,000 can grow to over 10 years. The starting return is 6 percent a year and you can change it.

Interest makes up 45 percent of the $1,819 final balance.

$
$
%
years
%
Final balance
$1,819
Total you put in
$1,000
Interest earned
$819
Year by year
YearTotal put inBalance
1$1,000$1,062
2$1,000$1,127
3$1,000$1,197
4$1,000$1,270
5$1,000$1,349
6$1,000$1,432
7$1,000$1,520
8$1,000$1,614
9$1,000$1,714
10$1,000$1,819
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How the growth is worked out

The formula is the amount times one plus the monthly rate, raised to the power of 120. For $1,000 at 6 percent that means a monthly rate of 0.5 percent and 120 months of growth.

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Worked example

Put $1,000 away at 6 percent for 10 years with no further deposits. The balance grows to $1,819. Interest accounts for $819 of that.

Halfway through, at 5 years, the balance is $1,349. The second half of the time adds $471, which is more than the first half added.

Questions about this calculator

What is $1,819 worth after prices rise 2.5 percent a year?

If prices rise at 2.5 percent a year for 10 years the final balance has the buying power of about $1,421 in starting-year money. Enter your own inflation rate in the calculator to test other cases.

What if you added $100 a month to $1,000 over 10 years?

The balance would reach $18,207 instead of $1,819. The deposits would add $12,000.

What yearly return would double $1,000 in 10 years?

About 7.2 percent a year. That is the rate at which $1,000 reaches $2,000 by year 10.

Is a lump sum of $1,000 better than depositing it monthly over 10 years?

For growth, yes. $1,000 invested at the start reaches $1,819. The same money split into 120 equal monthly deposits reaches only $1,366 at 6 percent because most of it spends less time growing. Monthly deposits suit a budget while a lump sum suits cash you already have.

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