Compound Savings Calculator
Calculate how your savings grow with compound interest and regular monthly deposits. See final balance, total deposits, and interest earned.
How to Use the Compound Savings Calculator
- Enter your initial one-time deposit.
- Enter the amount you will deposit each month.
- Enter the annual interest rate and number of years.
Quick Reference
| From | To |
|---|---|
| $0 + $500/mo, 7%, 30yr | $566,765 |
| $10K + $200/mo, 6%, 20yr | $125,528 |
| $5K + $300/mo, 5%, 10yr | $54,844 |
| Rule of 72 | 72/rate = doubling years |
| $100/mo for 40 yrs at 8% | $349,101 |
Use Cases
- •Projecting retirement savings growth over decades.
- •Setting up emergency fund savings goals.
- •Comparing savings scenarios with different contribution amounts.
Formula
Balance = P × (1 + r/12)^(12t) + M × ((1 + r/12)^(12t) − 1) / (r/12).
Frequently Asked Questions
How much should I save monthly?
A common guideline is 20% of income, but any consistent amount helps build wealth over time.
Does the initial deposit matter?
Yes, the initial deposit benefits from compounding over the entire period — even a small head start helps.
Is it free?
Yes, all calculators are completely free.