Savings goal · monthly deposit
Savings goal · monthly deposit: use initial balance, target balance, nominal annual return. Review the formula, worked example and calculation steps.
Inputs
Use the units shown—
Enter your values and select Calculate.
Formula & explanation
d = [target − P(1+r)ⁿ] / [((1+r)ⁿ−1)/r]
Variables & units
- Initial balance
- currency · minimum 0, maximum 1000000000000
- Target balance
- currency · minimum 0, maximum 1000000000000
- Nominal annual return
- % · minimum 0, maximum 100
- Months to save
- months · minimum 1, maximum 1200
Worked example
From 1,000 to 2,200 in 12 months at 0% requires 100 per month.
Assumptions
Fixed hypothetical return and monthly compounding; deposits are at month end. No fees or taxes.
Formula version 1.0.0. JavaScript floating-point arithmetic applies. Results display up to 6 decimal places; stored values retain available precision. Use the units shown.
Practice with an example
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