Savings Calculator
Project savings growth from an initial deposit, regular contributions, and interest.
Future Value
Total Contributions
Total Interest Earned
Year-by-Year Growth
| Year | Balance | Contributions to Date | Interest to Date |
|---|
How a Savings Calculator Works
A savings calculator projects how an account grows over time when you start with an initial deposit, add regular contributions, and earn interest. Each period your balance earns interest, and that interest is added back to the balance so it earns interest in future periods. This is the power of compound growth: the longer your money stays invested, the larger the share of your final balance that comes from interest rather than from your own deposits.
The Formula
Future value is calculated as FV = P·(1 + r)n + PMT·[((1 + r)n − 1) / r], where P is the initial deposit, PMT is the contribution per period, r is the periodic interest rate, and n is the total number of periods. When the interest rate is zero, the future value is simply the initial deposit plus all contributions.
Contribution Timing
This calculator assumes an ordinary annuity: each regular contribution is made at the end of its period. If you instead deposit at the start of each period, every contribution earns interest for one extra period, so your real-world results may be slightly higher than shown here.
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Disclaimer: This calculator provides estimates for educational purposes only. Results do not account for taxes, fees, inflation, or changes in interest rates. Actual savings outcomes may vary. Consult with a qualified financial advisor before making financial decisions.