Savings Goal Calculator
Find the monthly or yearly contribution needed to reach a savings target at a fixed rate.
Contribution formula
For target G, current savings P, periodic rate i and n deposits, contribution = max(0, (G − P × (1 + i)^n) / (((1 + i)^n − 1)/i)). At 0% it is max(0, (G − P)/n). Existing savings count toward your total personal contribution.
Assumptions and example
Interest compounds at the chosen deposit frequency and deposits arrive at period-end. To reach 1,200 from zero in one year at 0%, save 100 monthly. If existing savings will already reach the target, no new deposits are needed; the projected balance may exceed the goal. Taxes and fees are excluded.