General Savings & Deposit Calculator
A universal savings tool with advanced customization for tax rates, compounding frequency, and variable terms. The Swiss Army Knife for deposit calculations.
| Total Interest Earned: | - |
| Tax Payable: | - |
About
Not all savings accounts are created equal. While standard tools assume monthly compounding and tax-free growth, the reality of financial planning is often more complex. Certificates of Deposit (CDs) might compound daily, while bonds might pay out semi-annually. Furthermore, ignoring the impact of capital gains tax or income tax on your interest can lead to a gross overestimation of your actual 'take-home' profit.
This General Savings & Deposit Calculator is built to handle the variables that others ignore. It allows you to adjust the compounding frequency—from daily to annually—and factor in your specific tax bracket. This level of detail is essential for comparing disparate financial products, such as a high-rate CD with daily compounding versus a lower-rate bond with favorable tax treatment.
Formulas
The calculator determines the Future Value (FV) adjusted for the tax rate on earned interest.
Reference Data
| Compounding Frequency | Nominal Rate (%) | Effective Annual Rate (EAR) % | Growth on $10k (1 Yr) |
|---|---|---|---|
| Annually | 5.00% | 5.000% | $10,500.00 |
| Semi-Annually | 5.00% | 5.062% | $10,506.25 |
| Quarterly | 5.00% | 5.094% | $10,509.45 |
| Monthly | 5.00% | 5.116% | $10,511.62 |
| Weekly | 5.00% | 5.124% | $10,512.46 |
| Daily (365) | 5.00% | 5.127% | $10,512.67 |
| Continuously | 5.00% | 5.127% | $10,512.71 |
| Lesson | More frequent compounding yields higher returns for the same nominal rate. | ||