Compound interest calculator
Enter a starting amount, regular deposits, a rate of return and how long you’ll invest to see your balance, the interest earned and a year-by-year breakdown.
Year-by-year table
| Year | Deposits | Interest | Balance |
|---|
Calculated in your browser. Returns aren’t guaranteed; this is an illustration, not financial advice.
The compound interest formula
A = P(1 + r/n)nt, where P is the starting amount, r the annual rate, n the compounding periods per year and t the years. Regular deposits each grow from the date they’re made, which this calculator simulates period by period.
The rule of 72
Divide 72 by the annual return to estimate how many years money takes to double: at 6%, about 12 years; at 8%, about 9.
Fees matter more than they look
A 2% mutual-fund MER versus a 0.2% ETF fee can cost a third of your ending balance over 30 years. Enter the fee to see the difference. In Canada, growth inside a TFSA is tax-free and an RRSP defers tax until withdrawal; in a regular account, interest is taxed each year.
Borrowing instead of saving? The loan calculator runs the same maths in reverse.
Frequently asked questions
How much will $10,000 grow in 10 years at 5%?
About $16,470 with monthly compounding and no further deposits.
What return should I assume?
Many planners use 4–6% for a balanced portfolio after fees, and 2–4% for GICs and high-interest savings. Past returns don’t guarantee future ones.
Does this include tax?
No. Results are before tax, as in a TFSA.