01 — your goal
02 — your number
$770.78
per month · for 24 months
03 — interest does some lifting
$501
That's roughly how much of your goal the 2.5% interest covers, so you don't have to. Your starting $1,000 grows to about $1,051 on its own.
04 — the road there
- year 1$10,381
- year 2$20,000
Illustrative only — assumes the rate stays put, which savings rates rarely do, and ignores taxes on interest earned in a regular (non-registered) account. Not financial advice.
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