How compound growth works
Model an initial balance with regular monthly deposits.
Formula and convention
Balance after each month = previous balance x (1 + annual rate / 1200) + contribution. Deposits are made at the end of the month.A worked example
With 1,000 initially, 100 monthly, and 5% nominal annual growth, the ten-year projection is about 17,175.24.
Scope and precision
A constant growth rate is a scenario assumption, not a guaranteed return. Taxes, inflation, fees, and changes in contributions are excluded.
Displayed results may be rounded. Inputs are processed locally and are not stored by this site. Keep the original values if you need to reproduce the result.
Why might another tool give a different result?
Compare unit definitions, rounding, period assumptions, and input values. This page states the convention used by this calculator.