Save $50 a month for 10 years
Future value (at 7% / yr)
$8,654
You contribute
$6,000
Investment growth
$2,654
Total payments
120
Putting away $50 every month for 10 years (120 deposits) at an assumed 7% annual return, compounded monthly, grows to about $8,654. Of that, $6,000 is money you paid in and $2,654 is compound growth.
Assumes a constant 7% annual return compounded monthly and level contributions. Real returns vary; this is an illustration, not financial advice.
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