Simple Savings Calculator
Result
Simple Savings Calculator — free online calculator.
Formula
- Simple Savings Calculator projects savings growth from an opening balance, recurring annual contributions, annual return, years and compounding frequency.
- 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: Simple Savings
- Initial savings: 10000
- Annual contribution: 2000
- Annual return: 7 %
- Years: 10
- Compounds per year: 12
With 10,000 initially, 2,000 contributed each year, 7% annual return, 10 years and monthly compounding, projected savings are about 48,944.08.
Sample result: Calculating…
Frequently asked questions
What does the Simple Savings calculate?
Actual investment returns vary and may be higher or lower than the assumed rate.
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: Simple: A = P(1 + rt); Compound (annual): A = P(1 + r)ⁿ.
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.