Compound interest calculator
| Iteration |
Date |
Savings/year |
Interest |
Combined |
Total saved |
| 0 | 31-03-2023 | N/A | N/A | N/A | £1,000.00 |
| 1 | 30-03-2024 | £1,200.00 | £66.00 | £1,266.00 | £2,266.00 |
| 2 | 30-03-2025 | £1,200.00 | £141.06 | £1,341.06 | £3,607.06 |
| 3 | 31-03-2026 | £1,200.00 | £219.48 | £1,419.48 | £5,026.54 |
| 4 | 31-03-2027 | £1,200.00 | £301.41 | £1,501.41 | £6,527.95 |
| 5 | 30-03-2028 | £1,200.00 | £386.97 | £1,586.97 | £8,114.92 |
| 6 | 30-03-2029 | £1,200.00 | £476.31 | £1,676.31 | £9,791.23 |
| 7 | 31-03-2030 | £1,200.00 | £569.58 | £1,769.58 | £11,560.81 |
| 8 | 31-03-2031 | £1,200.00 | £666.95 | £1,866.95 | £13,427.76 |
| 9 | 30-03-2032 | £1,200.00 | £768.56 | £1,968.56 | £15,396.32 |
| 10 | 30-03-2033 | £1,200.00 | £874.59 | £2,074.59 | £17,470.91 |
| 11 | 31-03-2034 | £1,200.00 | £985.21 | £2,185.21 | £19,656.12 |
| 12 | 31-03-2035 | £1,200.00 | £1,100.60 | £2,300.60 | £21,956.72 |
| TOTAL | N/A | £14,400.00 | £6,556.72 | £20,956.72 | £21,956.72 |