This calculator helps you to understand how much money you can accumulate by saving small amounts of money each week in an account. Enter the amount you plan to add to your account each week, and the expected interest rate. The calculator will show you the amount that will accumulate in the account over different time spans.
(Note: This calculator does not take taxes into account. More on the tax topic in a later article.)
Run several examples to convince yourself that even small amounts of money, accumulated a week at a time, can add up to huge totals in the long run. This simple realization forms the basis of retirement planning, saving for a child's college education, building a down payment for a new house, etc.
Calculators courtesy of BYG Publishing, Inc.