To reach your goal in 18 months, you will need an additional $3,248.47 in savings either through current savings, additional monthly savings or a greater rate of return on your savings account balance.
|
| 0 | 2000.00 | 10000.00 |
| 1 | 2257.03 | 10000.00 |
| 2 | 2514.87 | 10000.00 |
| 3 | 2773.51 | 10000.00 |
| 4 | 3032.95 | 10000.00 |
| 5 | 3293.21 | 10000.00 |
| 6 | 3554.29 | 10000.00 |
| 7 | 3816.17 | 10000.00 |
| 8 | 4078.88 | 10000.00 |
| 9 | 4342.41 | 10000.00 |
| 10 | 4606.76 | 10000.00 |
| 11 | 4871.94 | 10000.00 |
| 12 | 5137.94 | 10000.00 |
| 13 | 5404.78 | 10000.00 |
| 14 | 5672.45 | 10000.00 |
| 15 | 5940.96 | 10000.00 |
| 16 | 6210.31 | 10000.00 |
| 17 | 6480.50 | 10000.00 |
| 18 | 6751.53 | 10000.00 |
Whether you are trying to save for big screen television, a new car or for a down payment on a new home, time, money and rate of return will all be determinant factors of when you will meet your savings goal.