How much should I save per month to reach $50,000 in 3 years at 5% interest?

Starting with $5,000, you would need to save approximately $1,152/month at 5% APY, earning over $3,500 in free compound interest.

Updated: August 2026 • Verified v1.2

Compound Savings Goal & Target Deposit Calculator

Finance & MathPopular

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Annuity PMT Formula: PMT = [FV - PV*(1+r)^n] / [((1+r)^n - 1) / r]

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Understanding Your Results

Calculates required monthly deposit, total out-of-pocket principal deposited, total interest earned from compounding, and year-by-year compounding progression schedule.

Practical Guidance & Next Steps

Using a High-Yield Savings Account (HYSA at 4–5% APY) significantly reduces the monthly cash you need to deposit compared to a standard 0.01% checking account.

What is this?

A financial planning utility that calculates the monthly deposit needed to reach a target savings balance with compound interest.

How does it work?

1. Enter your target savings goal ($). 2. Enter starting balance and time horizon (years). 3. Enter expected annual interest rate (% APY) to view your required monthly deposit and interest earnings.