← Savings Calculator
How Much Will I Earn at 5% Interest?
At 5% annual interest, your savings will grow faster than standard accounts. Use our calculator to see exactly how much you'll earn.
Your Savings Plan
Enter your savings details to see how your money grows
$
$
Your Savings Growth
See how your savings will grow over time
$31,056
Total after 10 years
Total Contributions
$24,000
Interest Earned
$7,056
Interest Bonus
You'll earn $7,056 in interest, which is 29.4% on top of your contributions.
Initial deposit$0
Monthly contributions (10 years)$24,000
Total interest earned$7,056
Effective annual rate (APY)5.12%
Final balance$31,056
Monthly Breakdown
Monthly contribution
$200
Avg. monthly interest
+$59
5% Interest Returns
$24,000
Your Contributions
+$7,056
Interest Earned
$31,056
Total Balance
Year-by-Year Growth
| Year | Start Balance | Contributions | Interest | End Balance |
|---|---|---|---|---|
| 1 | $0 | $2,400 | +$56 | $2,456 |
| 2 | $2,456 | $2,400 | +$181 | $5,037 |
| 3 | $5,037 | $2,400 | +$313 | $7,751 |
| 4 | $7,751 | $2,400 | +$452 | $10,603 |
| 5 | $10,603 | $2,400 | +$598 | $13,601 |
| 6 | $13,601 | $2,400 | +$752 | $16,753 |
| 7 | $16,753 | $2,400 | +$913 | $20,066 |
| 8 | $20,066 | $2,400 | +$1,082 | $23,548 |
| 9 | $23,548 | $2,400 | +$1,261 | $27,209 |
| 10 | $27,209 | $2,400 | +$1,448 | $31,056 |