InterestMath

Savings Calculator

Calculate savings growth with regular deposits. See total deposits vs interest earned breakdown over time.

Savings Details
$
$
%

Total Balance

$31,807

Total Deposits

$25,000

Total Interest Earned

$6,807

Interest % of Total

21.40%

Savings Growth Over Time
Year-by-Year Breakdown
YearDeposits This YearInterest This YearTotal DepositsTotal InterestBalance
1$2,400$96$3,400$96$3,496
2$2,400$211$5,800$307$6,107
3$2,400$331$8,200$637$8,837
4$2,400$456$10,600$1,094$11,694
5$2,400$587$13,000$1,681$14,681
6$2,400$725$15,400$2,405$17,805
7$2,400$868$17,800$3,274$21,074
8$2,400$1,018$20,200$4,292$24,492
9$2,400$1,175$22,600$5,467$28,067
10$2,400$1,340$25,000$6,807$31,807
How Savings Growth Is Calculated

This calculator computes savings growth using monthly compounding. Each month, interest is calculated on your current balance, then your monthly contribution is added.

The formula for each month is:

New Balance = (Previous Balance × (1 + Monthly Rate)) + Monthly Contribution

Where the monthly rate is the annual interest rate divided by 12. Over time, the interest component grows faster because you earn interest on previously earned interest (compound growth).

For example, saving $200/month at 4.5% for 10 years: you deposit $25,000 total ($1,000 initial + $24,000 in monthly contributions) and earn approximately $6,000+ in interest — meaning your money earned over 24% more than what you put in.

Frequently Asked Questions

This calculator is for educational purposes only and does not constitute financial advice. Consult a qualified financial advisor for personalized guidance.