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Monthly Deposit for a Savings Target — result sheet
Solve for the monthly-end contribution needed to reach a chosen future balance after accounting for existing savings and hypothetical monthly-compounded interest.
Inputs used
Results
Visual chart
Breakdown
Calculation steps
Returned data table
Formula and methodology
Formula: r = annualRate / 1200; n = 12 x years; required deposit = max(0, (targetBalance - startingBalance x (1 + r)^n) / (((1 + r)^n - 1) / r)). At zero rate, use max(0, (targetBalance - startingBalance) / n).
First grow the existing savings to the target date, then fund the remaining gap with equal monthly-end contributions. If the existing balance alone is projected to meet or exceed the target, required deposits are zero and the actual projected balance is shown instead of forcing it down to the target.
This result follows the calculator's declared inputs, precision, validation boundaries, and model limits.
Input contract
- Current savings — minimum 0; maximum 1000000000000
- Target future balance — minimum 0.01; maximum 1000000000000
- Nominal annual interest rate — %; Monthly rate = annual percentage / 1200; no live or guaranteed rate is used.; minimum 0; maximum 100
- Time to target — years; At least one whole month and at most 100 years; for example, 0.5 years is 6 months.; minimum 0.083333333333333; maximum 100
Worked example
| Input | Value |
|---|---|
| Current savings | 5000 |
| Target future balance | 50000 |
| Nominal annual interest rate | 6 |
| Time to target | 5 |
Required monthly-end deposit: 619.98 (rounded); projected balance using the unrounded deposit: 50000.00; new contributions: 37198.56.
Assumptions and limits
- Deposits are made at monthly-end; interest compounds monthly using a constant nominal annual rate divided by 12.
- Amounts use one consistent currency, with no taxes, fees, withdrawals, or inflation; the target and rate are hypothetical, not guaranteed.
- The horizon must be a positive whole number of months and no more than 100 years. Deposits retain full precision; round upward in your currency when arranging actual payments.
Calculator note
Source and methodology
Use the official WorldCalculate methodology policy for the source, formula, precision, and boundary standards behind this calculator.
Planning estimate, not financial, medical, legal, or professional advice. © WorldCalculate — reuse with attribution. Built and curated by Hassan ALRowaie.
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