Financial Calculators

Savings Calculator

Most people don't realize how even small additions to a savings account can accumulate and become a dependable asset. With this calculator, you can visualize a strategy that will work best for your needs.

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Definitions

Starting amount: This is the current amount in your savings account or the amount you plan to deposit to begin your savings account/investment.
Years: Enter the number of years you intend to contribute and save/invest.
Additional contributions: Choose the option to make contributions at the beginning of each month, quarter or year and enter the amount you plan on contributing to your savings/investment.
Rate of return: Your savings/investment will have an annual rate of return dependent on the rate your institution is currently paying. Check with them monthly or quarterly for the newest rates.
Compounding: Compounding adds the previous interest to your present earnings. Choose the frequency option that best suites you and your savings fund. Additional earnings will be generated the more frequent the investment is compounded.