Free Simple Savings Calculator | InvestingAnswers

To use this InvestingAnswers calculator, you’ll need to have four numbers: 1. Current amount you already have saved (this could also be your initial deposit) 2. Your monthly savings amount (what you plan to … See more

FAQs about Free Simple Savings Calculator | InvestingAnswers Coupon?

What is the simple savings calculator?

The Simple Savings Calculator is a tool designed to help individuals estimate the future value of their savings. By taking into account your initial savings amount, monthly contributions, annual interest rate, and the number of years you plan to save, this calculator provides an estimate of how much your savings will grow over time. ...

How does a savings calculator work?

A savings calculator does the math for you, estimating how much money you’ll have in a savings account based on four factors: Initial deposit. This is the amount you put in the account once it’s opened. Some banks require a minimum amount to open a savings account while others don’t. ...

How do I calculate a savings account?

To calculate for a savings account where you make deposits and withdrawls, use Investment Account Calculator. The balance in your account that you are starting with, if any. If none, enter 0. How much will you be depositing on a regular basis? How often will you be making deposits into your savings account? ...

What is a high yield savings account calculator?

Our high yield savings account calculator will help you figure out how much you'll need to save each month to meet your goals. Our High-Yield Savings Account Calculator will help you map out your savings strategy. By changing the input numbers, you can learn exactly how much you need to save in a high-yield account in order to reach your goals. ...

How do I calculate the future value of my savings?

To use our High Yield Savings Calculator to determine the future value of your savings, you’ll need to enter four pieces of information: Current Amount Saved – This can be either your accumulated savings balance, or your initial savings deposit into a high-yield savings account. ...

How much money do you need to start a savings account?

To reach your goal, you open a savings account with $1,000 and an annual interest rate of 1%. By depositing an additional $500 per month into your account, you’ll have the following balance after five years: ...