Financial Tool
Savings Goal Calculator
Calculate how much you need to save monthly to reach a goal.
Required Monthly Deposit
$228.07
Total Principal
$9,210.57
Total Interest Earned
+$789.43
Σ The Formula
PMT = (Goal - FV_initial) / Future Value Factor
Real World Examples
Example
Goal=$10k, Initial=$1k, 3yrs @ 5% → Save $232/mo
# About This Calculator
Planning for a big purchase? Find out exactly how much you need to set aside each month to reach your target by a specific date, factoring in compound interest.
Frequently Asked Questions
Is Savings Goal Calculator free to use?+
Yes, Savings Goal Calculator on Matheric is completely free to use. We believe in accessible education and utility for everyone.
How accurate is Savings Goal Calculator?+
We use standard mathematical formulas and high-precision computing algorithms to ensure results for Savings Goal Calculator are accurate for academic and professional use.
Can I use Savings Goal Calculator on my phone?+
Yes! Savings Goal Calculator is fully responsive and optimized for all devices, including smartphones, tablets, and desktops.
Do you save my data?+
No. We prioritize your privacy. All calculations are performed in your browser or temporarily processed, and we do not store your personal input data.
How do I report a bug?+
If you notice any issues with Savings Goal Calculator or have suggestions for improvement, please contact us via the link in the footer. We value your feedback!
Can I request a new feature?+
Absolutely. We are constantly expanding our toolset. Feel free to reach out with your requests, and we might build it next!
About
Planning for a big purchase? Find out exactly how much you need to set aside each month to reach your target by a specific date, factoring in compound interest.