# Savings Calculator

## 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 Yield (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.