💰 What is a Savings Calculator?

A Savings Calculator helps you estimate how much money you can save over time based on:

• Initial savings
• Monthly contributions
• Interest rate
• Time period

🎯 How to Use a Savings Calculator

1. Enter Initial Amount
   • Example: ₹5,000
2. Enter Monthly Savings
   • Example: ₹2,000
3. Enter Interest Rate (%)
   • Example: 8%
4. Enter Time Period
   • Example: 5 years
5. Click “Calculate”
6. View Result
   • Total savings
   • Interest earned
   • Final amount

📊 Formula Used

👉 Uses compound interest formula

👉 Future Value = P × (1 + r)^n
👉 With monthly savings, compound growth is applied

📊 Example

👉 Initial = ₹5,000
👉 Monthly = ₹2,000
👉 Rate = 8%
👉 Time = 5 years

➡️ Total Savings ≈ ₹1.5 – ₹1.7 lakh (approx)

⚡ Common Uses

• 💰 Personal savings planning
• 📈 Investment growth
• 🏦 Financial goals
• 📊 Budget tracking