Savings Calculator

Savings Calculator

Initial Deposit ($)

Please enter a non-negative number.

Monthly Contribution ($)

Please enter a non-negative number.

Annual Interest Rate (%)

Please enter a non-negative number.

Number of Years

Please enter a positive number.

Future Value

$0.00

Formula Explanation

Future Value = Initial Deposit × (1 + r)^n + Monthly Contribution × [((1 + r)^n - 1) / r]

Where r = monthly interest rate (annual rate / 12), n = total months (years × 12).