Savings Goal Calculator
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Planning estimate only — not financial or tax advice. Consult a qualified professional for personal decisions. Monthly contribution to hit a target, or future value from regular saving.
Rates last reviewed: July 2026
Goal & timeline
Monthly needed for goal
$301.66
Your $300.00/mo → $19,889.69 projected
- Goal
- $20,000.00
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Saving toward a goal
Regular saving with compound interest follows an ordinary annuity: future value = payment × ((1 + r)^n − 1) / r, where r is the rate per period and n is the number of periods. At 0% interest, FV = payment × n.
To reach a goal, solve for payment: PMT = FV × r / ((1 + r)^n − 1). Enter your goal amount, expected annual return, and years to save.
Example: $20,000 goal in 5 years at 4% APY compounded monthly → about $304/month. Actual returns vary — this is an illustration.
Official sources
Rates and formulas in this calculator are based on the documentation below. Platforms change fees — confirm current numbers before pricing or payouts.
Common questions
Is the interest rate guaranteed?
No. Enter your assumption. Savings accounts, CDs, and investments carry different risks and yields.
Does this account for taxes?
No. Tax on interest or investment gains can reduce net progress — consult a tax professional.