Savings Account Calculator
Calculate savings account interest in US Dollars (USD), Euros (EUR), and British Pounds (GBP). Compare returns with compound interest, monthly contributions, and different interest rates.
Step 1: Savings Details
About 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
Savings Formula
Compound Interest Formula: A = P(1 + r/n)^(nt)
Where: A = Future Value, P = Principal, r = Annual Rate,
n = Compounding periods per year, t = Years
Savings Account Calculation Results
Future Value in USD
Multi-Currency Savings Comparison
| Currency | Symbol | Initial Deposit | Monthly Contribution | Future Value | Exchange Rate |
|---|
Savings Calculation Details
Compound Interest Formula
Formula: A = P(1 + r/n)^(nt) + PMT × [((1 + r/n)^(nt) – 1) / (r/n)]
Where:
A = Future value of investment
P = Principal investment amount (initial deposit)
r = Annual nominal interest rate (as decimal)
n = Number of compounding periods per year
t = Number of years the money is invested
PMT = Additional monthly contribution
Inflation Adjustment
Real Value: Future Value / (1 + inflation rate)^t
Example: With 2.5% annual inflation, $10,000 in 10 years has the purchasing power of about $7,800 today.
Currency Exchange Rates
Current Rates:
1 USD = 0.93 EUR (approx)
1 USD = 0.79 GBP (approx)
1 EUR = 0.85 GBP (approx)
Note: Exchange rates fluctuate daily. These are approximations for calculation purposes.
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