.apr-savings-calculator-container {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
max-width: 700px;
margin: 20px auto;
padding: 25px;
border: 1px solid #e0e0e0;
border-radius: 10px;
background-color: #f9f9f9;
box-shadow: 0 4px 12px rgba(0, 0, 0, 0.08);
}
.apr-savings-calculator-container h2 {
color: #2c3e50;
text-align: center;
margin-bottom: 25px;
font-size: 1.8em;
}
.apr-savings-calculator-container .input-group {
margin-bottom: 18px;
display: flex;
flex-direction: column;
}
.apr-savings-calculator-container label {
margin-bottom: 8px;
color: #34495e;
font-weight: bold;
font-size: 0.95em;
}
.apr-savings-calculator-container input[type="number"],
.apr-savings-calculator-container select {
width: 100%;
padding: 12px;
border: 1px solid #ccc;
border-radius: 6px;
box-sizing: border-box;
font-size: 1em;
color: #333;
background-color: #fff;
transition: border-color 0.3s ease;
}
.apr-savings-calculator-container input[type="number"]:focus,
.apr-savings-calculator-container select:focus {
border-color: #007bff;
outline: none;
box-shadow: 0 0 0 3px rgba(0, 123, 255, 0.25);
}
.apr-savings-calculator-container button {
display: block;
width: 100%;
padding: 14px;
background-color: #28a745;
color: white;
border: none;
border-radius: 6px;
font-size: 1.1em;
font-weight: bold;
cursor: pointer;
transition: background-color 0.3s ease, transform 0.2s ease;
margin-top: 25px;
}
.apr-savings-calculator-container button:hover {
background-color: #218838;
transform: translateY(-1px);
}
.apr-savings-calculator-container .result {
margin-top: 30px;
padding: 20px;
border: 1px solid #d4edda;
background-color: #e9f7ef;
border-radius: 8px;
font-size: 1.1em;
color: #155724;
line-height: 1.6;
}
.apr-savings-calculator-container .result p {
margin: 0 0 10px 0;
display: flex;
justify-content: space-between;
align-items: center;
}
.apr-savings-calculator-container .result p:last-child {
margin-bottom: 0;
}
.apr-savings-calculator-container .result strong {
color: #0a3622;
font-size: 1.1em;
}
.apr-savings-calculator-container .result .value {
font-weight: bold;
color: #0a3622;
text-align: right;
}
.apr-savings-calculator-container .error-message {
color: #dc3545;
margin-top: 10px;
font-weight: bold;
text-align: center;
}
function calculateSavings() {
var initialDeposit = parseFloat(document.getElementById("initialDeposit").value);
var annualRate = parseFloat(document.getElementById("annualRate").value);
var compoundingFrequency = parseInt(document.getElementById("compoundingFrequency").value);
var savingsTerm = parseFloat(document.getElementById("savingsTerm").value);
var monthlyDeposit = parseFloat(document.getElementById("monthlyDeposit").value);
var errorMessageDiv = document.getElementById("errorMessage");
var resultDiv = document.getElementById("result");
// Input validation
if (isNaN(initialDeposit) || initialDeposit < 0) {
errorMessageDiv.textContent = "Please enter a valid initial savings amount.";
errorMessageDiv.style.display = "block";
resultDiv.style.display = "none";
return;
}
if (isNaN(annualRate) || annualRate < 0) {
errorMessageDiv.textContent = "Please enter a valid annual percentage rate (APR).";
errorMessageDiv.style.display = "block";
resultDiv.style.display = "none";
return;
}
if (isNaN(savingsTerm) || savingsTerm <= 0) {
errorMessageDiv.textContent = "Please enter a valid savings duration in years.";
errorMessageDiv.style.display = "block";
resultDiv.style.display = "none";
return;
}
if (isNaN(monthlyDeposit) || monthlyDeposit 0) {
var monthlyRate = rateDecimal / 12;
var totalMonths = savingsTerm * 12;
if (monthlyRate === 0) {
fvMonthlyDeposits = monthlyDeposit * totalMonths;
} else {
fvMonthlyDeposits = monthlyDeposit * ((Math.pow((1 + monthlyRate), totalMonths) – 1) / monthlyRate);
}
}
var totalSavings = fvInitialDeposit + fvMonthlyDeposits;
var totalDeposits = initialDeposit + (monthlyDeposit * savingsTerm * 12);
var totalInterestEarned = totalSavings – totalDeposits;
document.getElementById("totalSavings").textContent = "$" + totalSavings.toFixed(2);
document.getElementById("totalDeposits").textContent = "$" + totalDeposits.toFixed(2);
document.getElementById("totalInterestEarned").textContent = "$" + totalInterestEarned.toFixed(2);
resultDiv.style.display = "block";
}
Understanding Your APR Savings Growth
While Annual Percentage Rate (APR) is most commonly associated with the cost of borrowing, it can also be used to describe the annual rate of return on a savings account or investment, particularly when discussing the nominal interest rate before considering compounding effects. This calculator helps you visualize how your savings can grow over time based on a given APR, compounding frequency, and your regular contributions.
How Compounding Works
Compounding is the process where the interest you earn is added to your principal, and then that new, larger principal earns interest. This creates a snowball effect, accelerating your savings growth. The more frequently your interest is compounded (e.g., monthly vs. annually), the faster your money can grow, even with the same APR.
- Annually: Interest is added once a year.
- Semi-annually: Interest is added twice a year.
- Quarterly: Interest is added four times a year.
- Monthly: Interest is added twelve times a year.
- Daily: Interest is added every day (often resulting in the highest effective yield).
The Power of Regular Contributions
This calculator also accounts for additional monthly savings. Consistently adding to your savings, even small amounts, can significantly boost your total wealth over time. These regular contributions benefit from the same compounding effect, growing alongside your initial deposit.
How to Use This Calculator:
- Initial Savings Amount: Enter the lump sum you are starting with.
- Annual Percentage Rate (APR): Input the annual interest rate your savings account or investment offers.
- Compounding Frequency: Select how often the interest is calculated and added to your balance.
- Savings Duration (Years): Specify how many years you plan to save.
- Additional Monthly Savings: If you plan to add a fixed amount each month, enter it here. If not, leave it as zero.
- Click "Calculate Savings" to see your projected total savings, total deposits made, and the total interest earned.
Example Scenario:
Let's say you start with an Initial Savings Amount of $5,000. Your account offers an APR of 3.5%, compounded Monthly. You plan to save for 10 years and contribute an Additional Monthly Savings of $100.
Using the calculator with these inputs:
- Your initial $5,000 would grow to approximately $7,093.50.
- Your $100 monthly contributions would accumulate to approximately $14,356.82 in future value.
- Your Total Savings at the end of 10 years would be around $21,450.32.
- You would have deposited a total of $17,000 ($5,000 initial + $12,000 from monthly contributions).
- The Total Interest Earned would be approximately $4,450.32.
This example demonstrates how both your initial capital and consistent contributions, combined with the power of compounding, can lead to substantial growth in your savings.