A target with no interest
Starting with 2,000 and targeting 20,000 in 60 months at 0% requires 300 per month. The result is the same for either deposit timing.
Solve for a level monthly deposit to reach a nominal currency target. Enter your own assumed rate; it is held constant with monthly compounding.
Monthly deposit needed (rounded up to a cent)
USD 264.84
USD 20,000.00Exact-plan ending balance
USD 17,889.84Starting savings + deposits
USD 2,110.16Interest earned
Monthly schedule
Calculated at full precision; displayed amounts are rounded. CSV includes every period with six decimal places.
| Month | Opening | Interest / growth | Deposit | Closing |
|---|---|---|---|---|
| 1 | USD 2,000.00 | USD 6.67 | USD 264.83 | USD 2,271.50 |
| 2 | USD 2,271.50 | USD 7.57 | USD 264.83 | USD 2,543.90 |
| 3 | USD 2,543.90 | USD 8.48 | USD 264.83 | USD 2,817.21 |
| 4 | USD 2,817.21 | USD 9.39 | USD 264.83 | USD 3,091.43 |
| 5 | USD 3,091.43 | USD 10.30 | USD 264.83 | USD 3,366.57 |
| 6 | USD 3,366.57 | USD 11.22 | USD 264.83 | USD 3,642.62 |
| 7 | USD 3,642.62 | USD 12.14 | USD 264.83 | USD 3,919.59 |
| 8 | USD 3,919.59 | USD 13.07 | USD 264.83 | USD 4,197.49 |
| 9 | USD 4,197.49 | USD 13.99 | USD 264.83 | USD 4,476.31 |
| 10 | USD 4,476.31 | USD 14.92 | USD 264.83 | USD 4,756.06 |
| 11 | USD 4,756.06 | USD 15.85 | USD 264.83 | USD 5,036.75 |
| 12 | USD 5,036.75 | USD 16.79 | USD 264.83 | USD 5,318.37 |
The schedule uses the exact unrounded deposit; rounding deposits upward may leave a small surplus. No taxes, fees, inflation, or withdrawal events are included.
Your inputs and calculations stay in this browser. No live financial data is fetched; amounts use your selected USD or GBP labels.
How to use the Savings Goal Calculator
- 01
Enter current savings, your desired future nominal balance, and months until the goal.
- 02
Enter a nominal annual rate and choose when monthly deposits happen.
- 03
Read the deposit rounded up to the next cent; download the exact-precision projection if needed.
Examples
The goal is already funded
If starting savings alone will grow to at least the target, the required new monthly deposit is zero. The projected balance can exceed the target.
Solving for the deposit
The starting balance grows over the selected months. The remaining target is divided by the future-value factor for a stream of equal monthly deposits. A deposit at the start of each month receives one more month of growth than an otherwise identical month-end deposit.
Rounding and the exported plan
The highlighted monthly deposit is rounded upward to a cent so that simple rounding does not leave the target short. The schedule uses the exact calculated deposit and retains six decimal places in the CSV. Using the rounded-up deposit in practice can produce a small surplus.
Nominal goals and changing assumptions
The target is a future amount in the selected currency, not a target in today’s purchasing power. Interest rates, taxes, fees, and future prices can change. Recalculate with different rates or use the inflation calculator to explore what an unchanged basket might cost.
What to know
- Monthly compounding with a constant nonnegative nominal rate; no taxes, account fees, withdrawals, or inflation adjustment.
- Whole months only, up to 1,200. Currency selection changes labels without conversion.
Common questions
What happens at 0% interest?
The required contribution is the target minus the starting amount, divided by months, with a floor of zero.
Does the assumed rate come from a bank?
No. All values are entered by you; there are no live rates, recommended products, or account offers.
Can I model missed or varying deposits?
No. Every monthly deposit is the same and occurs at the selected start or end of month. Irregular contributions require a separate cash-flow model.