Savings Growth Calculator
How regular deposits and compound interest add up over time.
Deposits and interest, year by year
Your goal
Year by year
| Year | Deposits | Interest | Balance | In today's money |
|---|
How this is calculated
The plan is worked out month by month. Interest builds up every month and is credited, so it starts earning interest of its own, as often as the compounding setting says. This is how savings accounts and certificates of deposit work.
With no deposits this gives the textbook result P × (1 + r/n)^(n·t). A deposit made partway through a quarter or year earns simple interest until the next credit date.
Goal
The final balance grows in a straight line with the monthly deposit, so the deposit needed for a goal is exact: (goal − what the starting amount alone becomes) ÷ (what $1 a month becomes).
Inflation
"In today's money" divides each balance by (1 + inflation)^years, so you can compare it with prices now.
Keep in mind
Investment returns are not steady: a fund that averages 6% may lose money in some years. Taxes and fees are not included.