The Savings Calculator can be used to calculate the future value of savings with initial deposit, regular contributions and yearly increases, compounding and taxes.
| End balance | $92,116.99 |
| Initial deposit | $20,000.00 |
| Total contributions | $57,319.40 |
| Total interest earned | $14,797.59 |
Interest earned is added to the balance and earns interest itself (compounding). More frequent compounding gives a slightly higher yield.
Annual contributions are added at the end of each year and grow by the yearly increase you set. Tax is taken from interest as it is earned.