ConverterHub

Future Value Calculator

What will my savings grow to?

How it is calculated

The tool compounds monthly. It converts the annual rate to a monthly one, r = rate / 100 / 12, and the term to months, n = years × 12 (rounded to a whole month). The result is FV = P × (1 + r)n + C × ((1 + r)n − 1) / r, where P is the starting amount and C the deposit made at the end of every month. With a 0% rate it simply adds P + C × n.

It also reports total contributed (P + C × n) and interest earned (the difference). The rate is treated as a constant nominal annual return; there are no taxes, fees or inflation adjustment, and negative inputs give no result.

Worked example

Start with 5,000, add 200 a month for 10 years at 6% a year. The monthly rate is 0.5% and there are 120 months, so (1.005)120 ≈ 1.8194. The starting amount grows to about 9,096.99. The deposits grow to 200 × (0.8194 / 0.005) ≈ 32,775.86. Together the future value is $41,872.85. You paid in $29,000.00 yourself, so $12,872.85 is interest.

Try this example →

Common mistakes

  • Entering the monthly rate instead of the annual rate. Type 6 for 6% a year, not 0.5.
  • Putting the yearly savings amount in the monthly contribution field.
  • Treating the figure as guaranteed; real returns vary year to year and this uses one fixed rate.
  • Ignoring inflation, fees and tax, so the result overstates what the money will actually buy.

About this calculator

This calculator projects what a savings or investment plan will grow to by compounding an initial lump sum plus regular monthly contributions at a given annual return rate over a chosen number of years, showing how compounding causes growth to accelerate the longer money stays invested.

It is used by people planning retirement savings, a house down payment or a college fund who want to see whether their current contribution rate gets them to a target amount, and to compare scenarios — like increasing the monthly deposit or extending the timeline — to see which lever moves the outcome the most.

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