Savings Calculator

Interest Rate
Length of Term (years)
Monthly Deposit
Beginning Balance
Future Value

Use this calculator to compute estimated future value of a savings account or CD.

***Actual savings may vary from this estimate due to variables in methods of financial calculations.

Instructions for using the calculator:

Compounded - Click the button for how your interest is compounded.

Interest Rate - Enter the number, example: The Annual Percentage Rate (APR) of 3.25 for a 3 1/4% rate of savings.

Length of Term (years) - Enter the number of years you would like to estimate savings.

Beginning Balance - State your current savings balance.

Future Value - Leave this field blank. When you press compute, the result will be shown here. Future Value will automatically compute Annual Percentage Yield (APY).

Example for computing a CD:

To calculate a 6 month CD, enter .5 in the length of term, click "Annually" in the compounded area, place the amount of the deposit for the CD in present value area, fill in the interest rate you will earn, and click compute. Your future value will be displayed! (If you want to calculate a 3 or 9 month CD use .25 or .75, repectively, for the length of term.)

The information and results provided by this calculator are for illustrative purposes only and accuracy is not guaranteed. Please consult with a representative of Dakota Community Bank or seek other professional advice prior to relying on the results.