Deposits Needed for a Future Sum

The "deposit needed for a future sum" simulation will calculate the deposit amount you need to make in order to reach a specified future sum. It can be used to calculate how much you should save in an RRSP in order to meet your future retirement needs or to determine how much you need to regularly save in order to make a down payment on a house or automobile.

This model assumes the interest rate remains constant, deposits are made at the end of each period and the compounding of interest takes place at the end of the first specified period and each compounding period thereafter.

 

Desired Future Amount $
Number of Deposits per Year
Annual Interest Rate
Compound Periods per Year  
Number of  

Calculations performed by Member Solutions are for illustration purposes only and are not guaranteed. Please contact us for exact figures.