This calculator projects savings or investment growth for people who want to see what time, returns, and recurring deposits can do.
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Enter the starting balance, annual interest rate, investment period, compounding frequency, and any regular contribution. Keep the rate realistic because optimistic inputs produce pleasantly useless projections.
Without contributions, the future value is A = P × (1 + r/n)^(n × t), where P is the starting balance, r is the annual rate, n is the compounding periods per year, and t is the number of years. For deposits made at each period's end, add PMT × [((1 + i)^N - 1) / i], where i is the rate per deposit period and N is the number of deposits.
A $10,000 starting balance earning 6% annually, compounded monthly for 10 years, grows to about $18,194. Adding $200 at the end of each month raises the projected balance to about $50,970.
More frequent compounding credits interest sooner, so that interest can also earn interest. The difference is often modest unless the rate or time period is large.
Use an inflation-adjusted return if you want results in today's purchasing power. Otherwise, the result is a future dollar amount that may buy less than the same number of dollars buys now.
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