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Save $5,000 in 5 years at 2%
Exact compound math for the given inputs.
$79.31
monthly deposit to reach the goal
Goal$5,000
You deposit$4,758.33
Interest covers$241.67
Deposits60 monthly
Frequently asked questions
How much do I need to save monthly?
To reach $5,000 in 5 years at 2% APY you need $79.31 per month (60 deposits).
How much comes from interest?
You deposit $4,758.33 in total; compound interest contributes the remaining $241.67 of the goal.
What if I earn 0% interest?
With no interest you would need $83.33 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.