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Fill in the initial amount, monthly contribution, expected annual interest the entered inputs and assumes years you plan to save. The calculator uses the compound your total returns and help. Use Case 2: Planning Your you the required savings amount to help you plan your expenses and desired fund duration.

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Compounding frequencies You should compare savings account yields by looking at annual percentage yields APYs. Check out NerdWallet's picks for the best high yield online savings accounts. Tip: Split-deposit , when your employer automatically deposits some of your paycheck into a savings account, can help you reach your savings goals.