Work out how much you need to save each month to reach your financial goal within a chosen time frame.
PMT = (Goal − Current×(1+r)n) ÷ (((1+r)n − 1) ÷ r), where r is the monthly rate and n is the number of months. This is the standard annuity formula solved in reverse (knowing the desired final amount, it finds the required periodic contribution).
Extend the time frame, lower your goal amount, or aim for a higher return (with higher risk) — adjust the sliders and see how the required contribution changes.
Without investment growth, you must accumulate the entire goal amount from your own contributions alone — interest is not "working" for you.
Depending on the time frame and your risk tolerance — a deposit (see the deposit calculator), a money market fund, or an investment portfolio.
e-Buhalteris helps you plan and track business cash flow.
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