Savings Goal Contribution CalculatorFree online financial calculator — instant results, no sign-up

r = j / (100 × 12). For r ≠ 0: T = S(1 + r)^n + D[((1 + r)^n − 1) / r], so D = max(0, [T − S(1 + r)^n] × r / [(1 + r)^n − 1]). For r = 0: D = max(0, (T − S) / n). Using the defaults: D = [25000 − 5000(1 + 0.04/12)^36] × (0.04/12) / [(1 + 0.04/12)^36 − 1] ≈ $507.15 per month.

• TTarget balance in dollars.
• SCurrent savings in dollars.
• jAnnual nominal rate entered as a percentage, such as 4 for 4%.
• rMonthly interest rate expressed as a decimal.
• nSaving period in months, which must be a positive whole number.
• DRequired equal deposit in dollars, made at the end of each month.

Convert the annual nominal percentage rate to a monthly decimal rate. Grow the current savings over the full saving period, then subtract that future value from the target. Divide the remaining amount by the future-value factor for equal month-end deposits. If the rate is zero, divide the shortfall by the number of months instead; if current savings alone are projected to meet the target, no additional deposit is required. Display the monthly deposit rounded to cents.

These are the calculator's starting values and the results it actually produces for them.

1. 1Enter your target balance; use $25,000 to follow the worked example.
2. 2Enter your current savings; the example starts with $5,000.
3. 3Enter the annual nominal rate as 4 for the example's 4% rate, not as 0.04.
4. 4Set the saving period to 36 months for the example.
5. 5Calculate and read the required monthly deposit: $507.15, paid at the end of each month.