Savings Calculator Singapore. This is the most Comprehensive Saving Calculator on the Internet. it will generate tables and Column Chart result base on the User Inputs.

To calculate the Compound interest of your monthly savings.You are required to key in the current lump sump of your saving account ,monthly saving amount, how many years to save and finally the interest rate paid per year.The Calculator will output you the total savings plus interest, and the total interest earn throughout the inputted savings years.

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How To Calculate Compound Interest Savings

To set aside some extra cash for the rainy days is important nowadays, as the global economy aren’t very stable.As Singapore is very dependent on global trade, an economy downturn might affect her in any angle. If happens that one loose his or her job. There should be enough emergency fund available to cater for everyday living expenses for your self or family while looking for another job opportunity.

Now lets learn how to Calculate Compound  Interest Savings

Compound Interest with One Time Contribution

The Formula is As below:

A = P (1 + r/n) ^(nt)

• A = the future value plus  interest.
• P = Principal investment amount .
• r = Annual interest rate .
• n = Number of times interest is compounded.
• t = Time length  money is invested .

Example:

1. You deposited  $10,000 into Bank
2. The Bank Pays you an  interest rate of 3% per Year
3. You Keep that money in the Bank for 10 Years

Lets look at the Formula again,

Base on the Information on top we need to  fill in the Variable :

A = P (1 + r/n) ^(nt)

• P is your Principal so the Value is $10000
• r is the Interest Rate so it will be 3% = 3/100
• n  is the number of times the interest is compounded , so the value will be 12
• t is is the Time Length , so the Value is 10.

A = 10000 (1 + 0.03/12) ^(12*10)

If  you Calculate , the Final value will be as below

A=$13,439.16

Compound Interest with Regular Contribution

For Compound Interest with Regular Contribution it , involves 2 Segment.

1. The One Time  Contribution Compound Interest Formula(A = P (1 + r/n) ^(nt)

2. The Regular Contribution Future Value Series Formula. +  Regular Contribution × (((1 + r/n)^(nt) – 1) / (r/n))

The Total Formula as below

Future Total Value =  P (1 + r/n) ^(nt)+  Regular Contribution × (((1 + r/n)^(nt) – 1) / (r/n))

Example:

1. You deposited  $10,000 into Bank initially
2. Subsequently every month you top up $1000
3. The Bank Pays you an interest rate of 3% per Year
4. You Keep that initially $10000 in the Bank for 10 years
5. You keep repeating depositing $1000 into the Bank Every Month for 10 years

• P is your Principal so the Value is $10000
• r is the Interest Rate so it will be 3% = 3/100
• n  is the number of times the interest is compounded , so the value will be 12
• t is is the Time Length , so the Value is 10.
• Regular Contribution equals $1000

Future Total Value =  10000 (1 + 0.03/12) ^(12*10)+ 1000× (((1 + 0.03/12)^(12*10) – 1) / (0.03/12))

If  you Calculate , the Final value will be as below

Future Total Value = $153584.30

Check out the Singapore Discount Calculator here