Savings Interest Calculator
Calculate how much your savings will grow with compound interest and regular deposits. See future value and total interest earned.
Financial Disclaimer
This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs provided. Consult a qualified financial advisor before making investment or financial planning decisions.
Inputs
Results
Future Value
$16,686.80
≈ 8 gaming PCs
Total Interest Earned
$3,686.80
≈ 4 smartphones
How to Use This Calculator
- Enter your initial deposit or current savings balance.
- Set the annual interest rate for your savings or money market account.
- Enter the number of years you plan to save.
- Add a monthly deposit if you plan to make regular contributions.
- Choose the compounding frequency — most savings accounts compound daily or monthly.
- Review the future value, total deposits made, and total interest earned.
How the result changes with Years
| Years | Future Value | Total Interest Earned |
|---|---|---|
| 4 | $6,445.20 | $645.20 |
| 14 | $25,219.39 | $7,419.39 |
| 26 | $62,280.28 | $30,080.28 |
| 36 | $112,712.55 | $68,512.55 |
What each input means
- Initial Deposit
- Starting amount
- Annual Interest Rate
- Annual percentage yield (APY)
- Years
- Number of years to save
- Monthly Deposit
- Additional monthly deposits (optional)
- Compounding Frequency
- Times per year interest compounds (12 = monthly)
How this is calculated
Formula
FV = P(1+r/n)^(nt) + PMT × [((1+r/n)^(nt) - 1) / (r/n)]Worked example, using the default values
- Identify Input Parameters4 parametersInitial Deposit = 1000, Annual Interest Rate = 4.5, Years = 10, Monthly Deposit = 100 = 5 input(s) provided
- Calculate Future ValueFuture Value16686.800143796114 = $16,686.8
- Calculate Total Interest EarnedTotal Interest Earned3686.800143796114 = $3,686.8
- Calculate Total DepositsTotal Deposits13000 = $13,000
- Calculate Effective Annual RateEffective Annual Rate32.50653773713079 = 32.50653773713079%
Engine last updated . Checked against 1 independently-derived test — how we verify calculators.
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