Savings Calculator

Estimate how much your savings will grow with regular deposits, after tax and inflation.

Ending balance (after tax)

$18,891.82

Starting amount: $5,000.00
Total contributions: $12,000.00
Total interest earned: $2,364.78
Total deposits (start + contributions): $17,000.00
Interest rate: 4%
Length of time: 5 years
Compounding: Monthly
Tax on interest (20%): $472.96
Balance after tax: $18,891.82
Balance after tax in today's money (2% inflation): $17,110.91

Balance breakdown

Starting amount 25.8%
Contributions 62%
Interest 12.2%

Balance by year

Results are estimates and not financial advice.

Year-by-year balance

Year	Total deposits	Total interest	Balance
1	$7,400.00	$248.20	$7,648.20
2	$9,800.00	$604.29	$10,404.29
3	$12,200.00	$1,072.67	$13,272.67
4	$14,600.00	$1,657.91	$16,257.91
5	$17,000.00	$2,364.78	$19,364.78

About the savings calculator

Saving a little every month adds up, thanks to deposits and compound interest working together. This calculator projects your balance with a starting amount, monthly deposits and an interest rate.

Interest is usually taxable and prices rise over time, so it also shows the balance after tax and what that balance would be worth in today’s money. The bar chart and table show the pre-tax balance for each year.

Formula

Balance = S × (1 + i)^m + D × ((1 + i)^m − 1) ÷ i
After tax = Balance − Interest × tax rate
Today’s money = After tax ÷ (1 + inflation)^years

Example

$5,000 plus $200 a month at 4% compounded monthly for 5 years gives $19,364.78. Interest of $2,364.78 taxed at 20% leaves $18,891.82, which is worth about $17,110.91 in today’s money at 2% inflation.