Savings Calculator
Calculate how much your savings will grow. Choose between a lump sum deposit or monthly contributions, select simple or compound interest, and see your total earnings.
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How Savings Interest Works
Savings accounts and CDs earn interest on your deposited funds. The Annual Percentage Yield (APY) accounts for compound interest and shows your true earnings rate.
Simple Interest
Simple interest = Principal x Rate x Time. Interest is calculated only on the original deposit amount and does not grow over time.
Compound Interest
Compound interest earns interest on both the principal and previously earned interest. The formula is A = P(1 + r/n)^(nt), where n is the compounding frequency.