Savings Goal Calculator
Set a financial target and see how monthly contributions and interest combine to get you there on Jenzzy.
Inputs
Results
Enter values to see results.
Formula
Bₙ = Bₙ₋₁(1 + r/12) + contribution
Each month the balance earns pro-rated interest then receives your deposit until the goal is met.
Example
- Monthly rate: r_m = 4% / 12 ≈ 0.333%
- Iterate: Balance grows each month with interest + $500
- Reach goal: ≈ 78 months= 78 months
Result: About 6.5 years to reach $50,000
Frequently Asked Questions
What if my contribution changes?
Run separate scenarios for different monthly amounts.
Is the rate guaranteed?
No. Use conservative rates for short-term goals.
Include current savings?
Yes—enter money you already have saved.