Savings goal calculator
Find the monthly deposit needed to reach a savings target.
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USDTHE NUMBERS, MADE CLEARInstant calculation
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Assumes end-of-month deposits and a constant rate. Effective annual rates are converted to equivalent monthly rates. Excludes taxes, fees, inflation, deposit limits and eligibility. At zero interest, divide the shortfall by the number of months.
Common uses
Plan monthly savings from your target, current balance, term and contract rate.
BEHIND THE NUMBERSFormula & assumptions
C = max(0, (G − P(1+r)ⁿ) / ((1+r)ⁿ−1) × r)
Assumes end-of-month deposits and a constant rate. Effective annual rates are converted to equivalent monthly rates. Excludes taxes, fees, inflation, deposit limits and eligibility. At zero interest, divide the shortfall by the number of months.