Michael Benninger is the lead editor of banking at Forbes Advisor, with more than 10 years of experience in the personal finance space. His writing has been published by the Los Angeles Times, ...

One of the upsides to keeping your money in a bank account is the chance to earn compound interest — you earn interest on both the funds you deposit in an account and on the interest that money earns.

Knowing how to calculate interest on savings accounts can help you predict how much you can earn every month on your balance. You can manually calculate savings account interest using the simple ...