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Savings Calculator

Savings Calculator
Deposits
Answer:
Future Savings: $27,540.72

Total Number of Deposits = 520
Balance + Total Deposits = $26,500.00
Total Interest = $1,040.72

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Calculator Use

Calculates the future value of your savings account.  With a starting balance and regular deposits, how much can you save?

To calculate for a savings account where you make deposits and withdrawls, use Investment Account Calculator.

Starting Balance
The balance in your account that you are starting with, if any.  If none, enter 0.
Deposit Amount
How much will you be depositing on a regular basis?
Deposit Frequency
How often will you be making deposits into your savings account?
Deposit at Period
beginning or end; for a monthly deposit example, will you making deposits at the beginning or end of each month?
For how long?
How far into the future will you be making these deposits?  This is the moment in time where the value of your account will be calculated.
Interest Rate (APY)
This is the annual interest rate or "stated rate" for your savings account.  Also called the Annual Percentage Yeild (APY)
Compounding
is the number of times compounding occurs per period.  If a period is a year then annually=1, quarterly=4, monthly=12, daily = 365, etc.  Savings accounts are often daily compounding.


 

Cite this content, page or calculator as:

Furey, Edward "Savings Calculator"; from http://www.calculatorsoup.com - Online Calculator Resource.

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