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Compound interest calculator

See what your savings become with a starting deposit, monthly contributions and compound interest — the ideal tool to set a savings goal (RRSP, TFSA, emergency fund).

$
$
%
Total contributed: $49,000Interest earned: $35,919

Future value

$84,919

Interest earned

$35,919

Author's note: the most powerful ingredient here isn't the rate, it's time. Starting to save even small amounts early almost always beats large amounts started late. Automate a monthly transfer on payday — it's the simplest way to let compound interest work for you.

What this calculator includes

  • Initial deposit and monthly contributions
  • Annual rate and investment horizon
  • Compound growth over time
  • Total contributions vs interest earned

Sources and references

Autorité des marchés financiers — financial calculators and toolslautorite.qc.ca

This tool illustrates a mathematical projection at a constant rate; it is not investment advice. Actual returns vary and are not guaranteed.

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Frequently Asked Questions

Your questions about this tool

Answers to the questions readers ask most often about this calculator — what it computes, the figures used, and how to use it.

Open the full FAQ →
What is compound interest?+
It is interest calculated not only on your starting amount, but also on the interest already earned. Over time, your interest itself earns interest, which makes savings grow faster. The longer the horizon, the more powerful the effect.
What rate of return should I use?+
It depends on your investments. As a guide: a savings account often returns 1 to 4%, while a diversified long-term portfolio has historically aimed for around 5 to 7% per year on average, with no guarantee. Use a conservative assumption and remember actual returns vary year to year.
Does this account for inflation and taxes?+
No. The result is a gross amount before taxes and before the effect of inflation. In an RRSP or TFSA, growth is sheltered from tax (RRSP is taxed on withdrawal, TFSA is not). Real purchasing power will be reduced by inflation over long periods.
Is my data saved?+
No. The calculation runs entirely in your browser: no information is sent to or stored on our servers.