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Save $5,000 in 5 years at 6%
Exact compound math for the given inputs.
$71.66
monthly deposit to reach the goal
Goal$5,000
You deposit$4,299.84
Interest covers$700.16
Deposits60 monthly
Frequently asked questions
How much do I need to save monthly?
To reach $5,000 in 5 years at 6% APY you need $71.66 per month (60 deposits).
How much comes from interest?
You deposit $4,299.84 in total; compound interest contributes the remaining $700.16 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.