Estimate how much your savings will grow over time using monthly contributions and interest.
The calculator uses compound interest plus monthly contributions:
Future Value = P(1 + r/n)^(nt) + PMT × [((1 + r/n)^(nt) − 1) / (r/n)]
Where:
• P = initial savings
• PMT = monthly contribution
• r = annual interest rate (decimal)
• n = 12 (monthly compounding)
• t = years
Initial Savings = 2,000 Monthly Contribution = 150 Interest Rate = 4% Years = 12 Possible Output: Future Value = 32,441.88