How to save $10,000 in 5 years
Save each month (at 6% / yr)
$143.33/mo
You contribute
$8,600
Investment growth
$1,400
Goal
$10,000
To reach $10,000 in 5 years assuming a 6% annual return compounded monthly, you'd need to invest about $143.33 per month. Over 60 months you contribute $8,600, and compound growth adds the remaining $1,400.
Assumes a constant 6% annual return compounded monthly. Illustration only, not financial advice.
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