Estimate the monthly deposit needed to achieve a savings goal, or how much you'll accumulate given a certain monthly deposit and rate of return.
How Does This Calculator Work?
To use this calculator, enter appropriate values in all but one of the calculator fields, using the TAB key to jump from field to field:
- The estimated dividend rate you expect to earn on your savings.
- The initial deposit you intend to make to the account.
- The length of time (term) over which you expect to earn the estimated rate.
- The target amount you would like to have saved by the end of the term.
Then, click the "Calculate" button next to the blank field for the desired result.
If you estimate a 7% dividend rate, a $1,000