Save $50 a month for 5 years
Future value (at 7% / yr)
$3,580
You contribute
$3,000
Investment growth
$580
Total payments
60
Putting away $50 every month for 5 years (60 deposits) at an assumed 7% annual return, compounded monthly, grows to about $3,580. Of that, $3,000 is money you paid in and $580 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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