Investing

Compound Interest Calculator

Project how an investment may grow from starting money, monthly contributions, time, and return assumptions.

Before you calculate

What compounding interest means.

Compound interest means your money can earn a return, then that return can start earning a return too. Over long periods, the growth can become a larger share of the final value than the money you personally contributed. The exact path depends on time, contribution habits, fees, taxes, account type, and whether the return assumption is realistic.

Main assumptions

Inputs are editable and should be updated with your real income, rates, province, fees, account limits, household details, and time horizon. Calculations are simplified so the result works best as a comparison tool: change one assumption at a time, note which inputs move the result most, and use the output to decide what records or source pages to check next.

Methodology

How the estimate is built

The calculator starts with the values you enter, applies the plain formula shown by the labels, and returns a directional planning result. When a default is provided, it is meant to be a reasonable starting assumption, not a live quote or a guaranteed rate. Change the inputs to match your province, provider, household, time horizon, and actual documents.

Example use

Run three cases before deciding

Use one conservative case, one expected case, and one stretch case. For a money calculator, that might mean a lower return, a current-rate case, and a higher-cost case. For a tax or account tool, compare your estimate with CRA, lender, employer, school, or provider records before you treat the result as actionable.

Source notes

Confirm current rules

Canooq reviews calculator pages periodically, but government limits, product terms, tax rules, interest rates, fees, eligibility conditions, and market prices can change. Use this section to identify the source behind the number: CRA or government pages for public rules, lender or provider pages for product terms, and your own statements for personal balances.

Basics

Initial investmentiEnter your starting balance.

Monthly contributioniEnter how much you plan to add each month.

Interest or return rateiUse an annual rate. This is an assumption, not a guarantee.

Time horizoniEnter how many years the money may stay invested.

years

Compound frequencyiChoose how often returns are applied in the estimate.

How compound interest works

Compound interest means returns can earn returns of their own over time.

Why starting early matters

More time gives compounding more years to work, even when monthly contributions are modest.

TFSA investing examples

A TFSA can shelter investment growth from tax, but contribution room rules still apply.

Frequently asked questions

Does this guarantee returns?+

No. Investment returns can be positive or negative.

Should I use inflation?+

You can lower the return assumption if you want a rough after-inflation projection.

Disclaimer

Estimate only. This tool is for informational purposes and does not replace professional financial, tax, legal, mortgage, or immigration advice. Always verify official figures before making decisions.