Compound Interest Calculator UK: How to Grow Your Money Faster
Quick answer Compound interest pays interest on your interest. It is calculated with the formula A = P(1 + r)ᵗ. On this page’s example, £1,000 at 5.00% AER becomes £1,276.28 after five years, so £276.28 of the final amount is interest, and £26.28 of that is interest earned on earlier interest. Use the free calculator…