How to Use Simple Savings Calculator
The Simple Savings Calculator is a no-frills compound-interest projection. Enter your starting balance, annual interest rate, time horizon, and monthly deposit. The Simple Savings Calculator returns the future value, the total contributions you made, and the total interest earned.
- Enter the starting balance.
- Enter the annual interest rate and years.
- Enter the monthly deposit (optional).
- Read the breakdown.
Formula & Theory - Simple Savings Calculator
The Simple Savings Calculator uses:
i = APR / 12
n = 12 · years
FV = P · (1 + i)^n + C · ((1 + i)^n - 1) / i| Symbol | Meaning |
|---|---|
| P | Starting balance |
| C | Monthly deposit |
| i | Monthly rate |
| n | Number of months |
Assumptions and Limits
The Simple Savings Calculator assumes a constant rate and end-of-month deposits. Real accounts may compound at different intervals or apply fees.
Use Cases for Simple Savings Calculator
- Quick projections - sanity check savings plans.
- Side-by-side scenarios - compare APRs and time horizons.
- Teaching compounding - show the long-tail effect.
- Personal goal tracking - estimate balance milestones.