Savings Calculator
Calculate how your savings grow with regular deposits and compound interest.
Inputs
$
$
%
Results
Final Balance
$32,703.47
Total Deposited
$25,000.00
Interest Earned
$7,703.47
Formula
FV = PV(1+r)^n + PMT × [(1+r)^n - 1] / r
Where PV = initial deposit, r = monthly rate, n = total months, PMT = monthly contribution.
Worked Example
Initial: $1,000 | Monthly: $200 | Rate: 5% | Years: 10
Total deposited: $25,000
Final balance: ~$32,364
Interest earned: ~$7,364
When to Use This Calculator
Use to project how regular savings deposits grow over time with compound interest.
Important Assumptions
- Rate is constant and compounds monthly.
- Deposits are made consistently.
- No withdrawals, taxes, or fees.
Common Mistakes to Avoid
- Overestimating the savings rate — use your actual APY.
- Not accounting for inflation's effect on purchasing power.
Frequently Asked Questions
What rate should I use?
Use the APY offered by your savings account or CD. High-yield savings accounts may offer higher rates than traditional accounts.
How accurate is this?
This gives a close estimate for fixed-rate accounts. Actual results may vary slightly due to the exact timing of deposits and compounding.
Related Calculators
Methodology: This calculator uses standard financial formulas documented above. All calculation engines are unit-tested for accuracy.View full methodology
Disclaimer: This calculator provides estimates for educational purposes only. Results do not constitute financial advice.Full disclaimer