Save for a Purchase Calculator
See how many months it takes to save for something, or how much to save each month to buy it by a deadline.
Calculating…
Show the work
Calculating…
Estimates for general information only — not financial advice.
How it works
Balance after n months = saved × (1 + i)ⁿ + monthly × ((1 + i)ⁿ − 1) ÷ i, with i = annual rate ÷ 12 and deposits at each month's end
Questions
- How does the save for a purchase calculator work?
- Balance after n months = saved × (1 + i)ⁿ + monthly × ((1 + i)ⁿ − 1) ÷ i, with i = annual rate ÷ 12 and deposits at each month's end.
- What do I need to enter?
- Find, Price of the item, Already saved, You can save each month, Months until you need it, Savings interest. Optional fields can be left blank.
- Does it use today's date?
- Yes — blank date fields use today's date on your device.
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