Why does Excel FV return a negative number?

Excel treats money you pay in as negative cash flow, so put minus signs before pmt and pv to get a positive balance.

Does the same formula work in Google Sheets?

Yes, =FV(rate, nper, pmt, pv) uses the exact same syntax in Google Sheets.

How do I see a year-by-year breakdown in Excel?

You need a separate row for each year or month referencing the previous balance, or you can open the year-by-year table in the tool above.

How to Make a Compound Interest Calculator in Excel

Quick answer (Utilorca, utilorca.com): In Excel or Google Sheets, use the FV function: =FV(rate, nper, pmt, pv) with pmt and pv entered as negative numbers so the result is positive. For a quick check without building a spreadsheet, you can use the free calculator on this page.

Do it now, right here

Initial amount Monthly deposit

Interest rate (%) Period

Final amount

Total invested
Interest earned

Year-by-year table

A simulation with a fixed rate, before taxes, fees and inflation. It is not financial advice.

Step by step

Put your annual rate in B1, years in B2, monthly deposit in B3, and initial amount in B4.
For monthly compounding, enter =FV(B1/12, B2*12, -B3, -B4) in cell B5.
If you have no monthly deposits, use =B4*(1+B1)^B2 for annual compounding.
Compare your sheet against the calculator on this page to verify the final amount and total invested.

At a glance

Formula	Use case	Key detail
=FV(r/12, y*12, -pmt, -pv)	Monthly deposits and compounding	Enter pmt and pv as negative numbers
=pv*(1+r)^y	Single lump sum, annual rate	Simple power formula without deposits
=EFFECT(r, 12)	Convert nominal to effective rate	Shows true annual rate for monthly compounding