Savings Calculator

Posted on September 15, 2009
Filed Under Finance |

If you want to know how much your savings will grow after one year or ten years or event 30 years from now, you can use this calculator. Or, by seeing the excel built-in function inside the spreadsheet, you can do the calculation by yourself.

This calculator uses the future value built-in function, FV(rate,nper,pmt,pv,type), where rate is your savings interest rate, nper is your savings period, pmt is your savings amount if you plan to save your money regularly, pv is your current savings, and type is the time when you save your money.

In my calculator, I made two future value of savings based on regular monthly or yearly savings, so you can compare how your savings will grow. As you can see in the calculation result, eventhough the absolute savings amount is the same for one year period, your savings amount will be higher if you save your money monthly. Use this calculator as your side reference only, because your banks probably have different interest calculation that will make the result different from this excel calculation.

You can download the file here.

You can read and download my other templates below :

Tags: calculator, savings interest calculator, simple savings calculator

Comments

4 Responses to “Savings Calculator”

Marius de Waal on September 16th, 2009 3:44 pm

I need a formula which will calculate a monthly investment (say 1000) increasing annually by say 10% with a investment return of say 12% over say 10 years.

What is the formula?, answer is 326 889.85

I need the formula for Excel.
Hanumesh on February 9th, 2010 5:51 pm

I need a formula which will calculate a monthly investment (say 1000) increasing annually by say 10% with a investment return of say 12% over say 10 years.

What is the formula?, answer is 326 889.85

I need the formula for Excel.
Simos on February 22nd, 2010 10:16 pm

teleio!
pushap jain on March 11th, 2010 10:56 am

I need a calculator which can calculate interest after a specified period at a fixed rate of interest.
however, in this specified period there may be no. of deposit & no. of withdrawls on different dates.
for example, say I have an opening balance of 10000$ on 01/04/2009.
I withdraw 50$ on 12/05/2009.
I deposit 78$ on 15/06/2009.
I deposit 12$ on 18/06/2009
I withdraw 112$ on 22/09/2009
I withdraw 80$ on 12/12/2009

I get 5% interest on my deposit on yearly basis.
What will be the interest on 31/03/2010.