Savings & investment growth
Savings & investment growth: use initial balance, end-of-month deposit, nominal annual return. Review the formula, worked example and calculation steps.
Inputs
Use the units shown—
Enter your values and select Calculate.
Formula & explanation
FV = P(1+r)ⁿ + d[(1+r)ⁿ−1]/r
Variables & units
- Initial balance
- currency · minimum 0, maximum 1000000000000
- End-of-month deposit
- currency · minimum 0, maximum 1000000000000
- Nominal annual return
- % · minimum 0, maximum 100
- Saving period
- months · minimum 0, maximum 1200
Worked example
1,000 initially plus 100 monthly at zero return for 12 months becomes 2,200.
Assumptions
Constant nominal annual return with monthly compounding and end-of-month deposits. No tax, fees or investment risk is modelled.
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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