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Use this calculator to figure how much your current savings will grow and how much more you'll need to save each month in order to achieve a given savings goal within a given number of years. Start with Line 1 and enter your future savings goal.
Enter the amount of your future savings goal.
Enter the amount of money you currently have set aside (in an interest earning account) for applying toward your future savings goal.
Enter the annual percentage rate (as a whole number, e.g. if 6.5%, enter 6.5) that you expect your savings will grow at.
Enter the number of years between now and when you want to accomplish your savings goal. Then click on the [Compute] button.
This is the amount your current savings will grow to at the end of the specified number of years.
This is the total additional amount you will need to meet your savings goal.
This is how much money you will need to save every month to reach your future savings goal.
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