Calculate the monthly contribution needed to reach a specific dollar goal by a target date — given a starting balance and expected interest rate.
Solves the standard future-value-of-an-annuity equation used by every financial textbook.
A savings goal is just a number, a date, and a starting balance. This calculator solves the future-value-of-an-annuity equation for the monthly contribution you need to bridge the gap — accounting for the interest your money will earn along the way.
FV = PV(1 + r)^n + PMT × [((1 + r)^n − 1) / r], where PV is your starting balance, r is the monthly rate, n is the number of months, and PMT is the monthly contribution. Solving for PMT: PMT = (FV − PV(1 + r)^n) × r / ((1 + r)^n − 1).
Goal: $30,000 down payment in 4 years (48 months). Starting balance: $5,000 in a 4% APY high-yield savings account. Required monthly contribution ≈ $470. Total contributed ≈ $22,560; interest earned ≈ $2,440.
Project the future value of savings or investments with monthly contributions and compound growth.
Calculate your right emergency fund target based on monthly expenses, desired months of coverage, and how fast your current savings reach that target.
Match it to the account: 4–5% for high-yield savings, 5%+ for CDs, 6–8% long-term for diversified stock portfolios. Conservative beats optimistic when a real deadline is involved.
Contributions to taxable accounts aren't taxed, but the interest they earn is. Tax-advantaged accounts (Roth IRA, 401(k)) shelter the growth.
Stretch the timeline, lower the goal, or do both. The math always balances — the only question is which lever you'd rather pull.
This calculator is for educational and estimation purposes only. It does not provide financial, mortgage, tax, investment, or legal advice. Actual rates, payments, taxes, fees, insurance costs, eligibility, and loan terms vary by lender, location, credit profile, and market conditions. Always compare official offers and consult a qualified professional before making financial decisions.
Last updated June 2026 · Prepared by the mCalculator Editorial Team