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Save $5,000 in 1 year at 6%
Exact compound math for the given inputs.
$405.33
monthly deposit to reach the goal
Goal$5,000
You deposit$4,863.99
Interest covers$136.01
Deposits12 monthly
Frequently asked questions
How much do I need to save monthly?
To reach $5,000 in 1 years at 6% APY you need $405.33 per month (12 deposits).
How much comes from interest?
You deposit $4,863.99 in total; compound interest contributes the remaining $136.01 of the goal.
What if I earn 0% interest?
With no interest you would need $416.67 per month — interest does part of the work here.
Try nearby scenarios
Change the numbers yourself
Open the interactive savings goal calculator — every field is editable.