How much will I save?
You will save $2,248,636, starting with $20,000 and depositing $5,000 monthly for 11 years and 0 months.
Information entered
Deposits & Terms
Initial Balance
$20,000
Regular Deposit
$5,000
Frequency of Deposit
Monthly
Savings term
11 years
Interest rate
Interest rate
20%
Taxes
Taxable Interest?
No
Results
Answer
Total saved
$2,248,636
Details
Initial balance
$20,000
Total deposits
$660,000
Total interest earned
$1,568,636
Total taxes paid
$0
Total saved
$2,248,636
Assumptions and simplifications
http://moneycentral.msn.com/investor/calcs/n_savapp/main.asp