Savings goal calculator
Target, current savings, annual rate (monthly compounding), and monthly add. Time to the goal.
CopiedAbout this savings goal calculator
Goal amount, optional starting balance, rate, and timeline. See a required monthly contribution or an ending balance depending on which fields you fill.
Uses standard compound-interest and annuity relations: solve for PMT given FV, or FV given PMT, with monthly rate r = APR/12/100 when interest is on.
Not a bank product and not advice about emergency-fund size. Assumed rates may not match your account; fees and taxes are omitted.
FAQ
How is time calculated? Monthly rate r = annual/12/100. n = log((target + monthly/r) / (current + monthly/r)) / log(1+r). If the rate is 0, n = (target − current) / monthly.
What if I add nothing? If monthly add is 0 and the rate is above 0, it uses n = log(target / current) / log(1+r). If the rate is also 0, it cannot get there.
Is this advice? No. It is the closed-form months for a fixed monthly deposit.