Savings Growth Calculator
Calculate how your savings can grow with compound interest over time. Plan for retirement, education, major purchases, or financial goals.
Step 1: Savings Details
Understanding Compound Interest
Compound interest means you earn interest on both your initial deposit and the interest that accumulates over time. The more frequently interest compounds, the faster your savings grow.
Step 2: Calculation Options
Compound Interest Formula
A = P(1 + r/n)^(nt)
Where:
A = Future value
P = Principal amount
r = Annual interest rate
n = Compounding frequency
t = Time in years
Savings Growth Results
Growth Summary
Yearly Breakdown
Scenario Comparison
Future Value of Your Savings
$16,470.09
10 years at 5% annual interest
Total Contributions
$13,000.00
Interest Earned
$3,470.09
After Inflation
$12,857.51
After Tax
$15,776.07
Year-by-Year Growth Breakdown
| Year | Start Balance | Contributions | Interest | End Balance |
|---|
Savings Scenario Comparison
| Scenario | Monthly Save | Interest Rate | 10 Years | 20 Years | 30 Years |
|---|
Need Professional Financial Planning?
Connect with certified financial advisors for personalized savings strategies, retirement planning, investment advice, and comprehensive financial planning services.
Get Financial Advice