Savings calculator
FV = future value
i = interest rate
n = number of compounding periods
WHAT IS IT ?
Savings calculator to estimate your investment growth over time.
CALCULATION:
EXAMPLE:
We regularly save 1000 Euros annually. We assume an interest rate of 3% and want to save for 20 years.
We calculate the final value as follows: 1000 * (((1+0.03)^20) - 1) / 0.03 = 1000 * ((1.03^20) - 1) / 0.03 = 1000 * (1.81 - 1) / 0.03 = 1000 * (0.81 / 0.03) = 26870.37
Therefore, the saved amount after 20 years is 26,870.37 Euros.
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