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Savings Goal Timeline

How long until you reach a savings goal, given a monthly contribution, a starting balance, and an annual interest rate.

Savings Goal ($)

Monthly Contribution ($)

Starting Balance ($)

Annual Interest Rate (APY %)

Limitations: Assumes CONSTANT monthly contribution and CONSTANT rate. Real HYSA / CD rates change with the Fed funds rate; a 0% projection is the conservative worst case.

What to do next: For a $5,000 goal at $300/month and 4.5% APY starting from $0, the result is about 16 months.