Finance
Monthly Savings for Goal
Monthly deposit to reach a future goal.
Formula
Formula
PMT = FV·r(1+r)n − 1
Variables
| Symbol | Definition | Type & range | Units | Role |
|---|---|---|---|---|
| FV | savings goal | real number (ℝ) | — | input |
| r | monthly rate | real number (ℝ) | — | input |
| n | months | computed result | — | result |
Try it yourself
Interactive calculator
Worked examples
Example 1
Givengoal = 20000, annual rate (%) = 4, years = 5
Result301.6637744
Example 2
Givengoal = 100000, annual rate (%) = 6, years = 18
Result258.1623217