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Savings Calculator Instructions
To use this calculator, enter appropriate values in all but one of the calculator fields, using the TAB key to jump from field to field:
- The estimated dividend rate you expect to earn on your savings.
- The initial deposit you intend to make to the account.
- The length of time (term) over which you expect to earn the estimated rate.
- The target amount you would like to have saved by the end of the term.
Then, click the "Calculate" button next to the blank field for the desired result.
EXAMPLE:
If you estimate a 7% dividend rate, a $1,000 initial balance, and $300 savings per month (monthly deposit) for 5 years (term), you would then click the "Calculate" button next to the target amount field to learn how much you would accumulate over that time — $22,896.89.