What is the Savings Calculator?

The Savings Calculator helps you estimate the future value of your monthly contributions based on a specified annual interest rate and time period. By entering your monthly deposit, annual interest rate, and number of years, the calculator computes how much your savings will grow over time with monthly compounding. This tool is useful for individuals planning for retirement, education funds, or any long-term savings goal, helping you visualize the impact of consistent contributions and interest accumulation.

How to Use:

1. Enter Monthly Contribution (P): Input the amount you plan to save each month.
2. Enter Annual Interest Rate (%): Type the yearly interest rate as a percentage.
3. Enter Time (years): Specify the total number of years you plan to save.
4. Click “Calculate”: The calculator computes the future value of your savings with monthly compounding.
5. Review the Result: Use the displayed future savings to plan your financial goals, track progress, or adjust contribution amounts.