This is a worked example. Change the values, then press Calculate.
Growing savings usually involves both a starting amount and ongoing contributions, this calculator combines both into one future value projection, with your choice of compounding and contribution frequency.
This calculator combines the future value of a lump sum with the future value of a series of periodic contributions, compounded at your chosen frequency, to project total growth over time.
Contributing at the start of each period gives that contribution one extra compounding period to grow compared to contributing at the end, a small difference per period that compounds into a meaningfully larger total over many years, which is why this calculator lets you choose either timing convention.
A contribution made at the start of a period earns interest for that entire period, while the same contribution made at the end earns no interest until the next period begins, this extra compounding time adds up over many periods.
Compounding frequency is how often interest is calculated and added to the balance, while contribution frequency is how often you add new money, they can differ, for example compounding monthly while contributing only annually.