The monthly deposit time calculator will compute how long it will take you to reach your desired savings goal, based on three factors: the amount you currently have set aside, the amount you can add to your savings each month and the annual interest rate you expect to earn.
Instructions: To calculate the how long it will take to reach your savings goal, enter the beginning balance, your savings goal, the monthly dollar amount you plan to deposit and the interest rate you expect to earn, then click the "compute" button. Note that this calculator is based on monthly compounding.
DISCLAIMER: The accuracy of this calculator and its application to your specificsituation is not guaranteed. We encourage you seek advice from qualifiedprofessionals regarding all personal finance issues.