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Whether saving for a vacation, emergency fund, or major purchase, this calculator tells you exactly how much to save each month to reach your target on time.
Savings Goal Calculator
Results
Monthly Savings Needed
55 yr 2.076825820302247 mo
Total Contributions
$44,724.61
Interest Earned
$5,275.39
Months to Goal
5 years
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How It Works
We calculate the monthly deposit needed to grow your current savings to your goal amount, factoring in compound interest on your savings.
Formula
PMT = (Goal - PV × (1+r)^n) × r / ((1+r)^n - 1)Assumptions
- Fixed savings rate
- Regular monthly deposits
- Interest compounds monthly
- No withdrawals
Frequently Asked Questions
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