Savings Calculator
Result
Savings Calculator Savings is a fast, free finance calculator. Enter Initial Savings, Monthly Savings and Annual Interest Rate to get an instant, accurate result — complete with the formula, a step-by-step worked example, and answers to common questions, — free online calculator.
Formula
- Savings growth calculator. This page documents the calculation model and provides an educational worked example.
- The main inputs are Initial savings, Annual contribution, Annual return, Years, Compounds per year. Enter them in the units and format shown in the calculator.
- Use monetary amounts, rates and time periods exactly as labeled; the result reflects the assumptions entered on this page.
- Changing any input above recalculates the result with the same calculation engine used by this page.
Example: Savings
- Initial savings: 10000
- Annual contribution: 2000
- Annual return: 7 %
- Years: 10
- Compounds per year: 12
Initial savings of 5,000 plus monthly deposits can be projected using the entered interest rate and saving period.
Sample result: Calculating…
Frequently asked questions
What does the Savings calculate?
Actual account returns, fees, taxes, and deposit timing can change the result.
Which values should I enter?
Enter Initial savings, Annual contribution, Annual return, Years, Compounds per year using the units and format shown beside each field.
What formula does this calculator use?
The calculator uses the following relationship: Future value combines initial savings with periodic savings compounded at the entered rate.
Why might my result differ from another source?
Results can differ when another source uses different units, rounding rules, conventions or assumptions. Compare the inputs and definitions before comparing results.
Does the result update automatically?
Yes. Changing an input updates the result using the same calculation engine shown on this page.