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Savings goal calculator
Savings Goal Calculator
Calculate how much money you need to contribute each month in order to arrive at a specific savings goal.
Goal amount
*
GHS
Yearly interest rate
*
%
Duration
*
Years
Compound frequency
Yearly
Semi-Annually
Quarterly
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Results
Total deposits
GHS
Total earn from compound interest
GHS
Monthly amount to contribute
GHS
Additional deposits
Deposited at beginning or end of period?
Beginning
End
Admin
rate in %
Target * rate
$
1 + rate
$
Duration * compound freq
1 + rate POW Duration * compound freq
1 + rate POW Duration * compound freq -1
1 + rate POW Duration * compound freq -1 / rate
Numerator
$
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https://courses.lumenlearning.com/wmopen-mathforliberalarts/chapter/introduction-accounts-that-gain-interest/
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