Sinking Fund Calculator

Your details

The total amount you want to accumulate by the end of the saving period.
The yearly interest rate credited to your sinking fund. Use 0 for a simple no-interest savings envelope.
%
How often interest is calculated and added to the fund balance.
How often you make contributions. Must be less than or equal to the compounding frequency.
The number of years over which contributions are made.
years
Any additional months beyond the whole years entered above.
months
A lump sum deposited at the start. It earns interest for the full term and reduces how much you need to contribute periodically.
Currency
Required contribution
$261.91

Amount to deposit each period to hit your goal

Total contributed$9,428.63
Interest earned$571.37
Total payments36
Effective annual rate0.041%
Uniform Series Sinking Fund factor0.026191
Your contributions$9,428.63
Interest earned$571.37
Per-period payment$261.91

Save 261.91 per month to reach your goal.

  • You need to set aside 261.91 per month.
  • Interest does 5.7% of the work: 571.37 of your goal comes from growth, not your own pocket.
  • You will make 36 payments in total over the saving period.
  • The effective annual rate (after compounding) is 4.074%, which is what your money actually earns per year.

Next stepAutomate your contributions with a standing order or direct debit on the same day each period so you never miss a deposit.

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