Deposits Needed for a Future Sum

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The "deposit needed for a future sum" simulation will calculate the deposit amount you need to make in order to reach a specified future sum. It can be used to calculate how much you should save in an RRSP in order to meet your future retirement needs or to determine how much you need to regularly save in order to make a down payment on a house or automobile.

This model assumes the interest rate remains constant, deposits are made at the end of each period and the compounding of interest takes place at the end of the first specified period and each compounding period thereafter.

The Desired Future Amount $
Number of Deposits per Year  
Annual Interest Rate  
Compound Periods per Year (1,2,4, or 12)  
Number of

Calculations performed by Member Solutions are for illustration purposes only and are not guaranteed. See your credit union for exact figures.

Established in 2006, Grey Owl Wealth Strategies is wholly owned by Dauphin Plains Financial Group, a subsidiary of  Dauphin Plains Credit Union Limited.