How much should I save each month to hit my goal?

Work backwards from your target: what monthly deposit reaches it on time, and what the total cost is.

Goal amount ($)

Current savings ($)

Annual interest rate (%)

Years to goal

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Monthly deposit needed

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Total you'll deposit

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Interest earned en route

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Final projected value

How is the required monthly deposit found?

Solve FV = P(1+r)^n + PMT·((1+r)^n−1)/r for PMT. With $5k saved, $50k goal, 4% and 5 years the monthly need is about $662.

What if I already have enough saved?

The tool returns a small/zero deposit and shows your current balance alone reaches the goal — you're done, or you can lower the rate and keep a buffer.

Why does rate barely change the answer on short horizons?

Over 2–5 years compounding has less time to work. The bigger lever is the monthly deposit — which is why the tool emphasizes it.

Is this advice?

Educational only. Your real rate varies; model a conservative rate to avoid missing the goal.