ToolBox CS
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This calculator computes the number of years it will take for an initial investment along with monthly contributions to accumulate to $1 million.
Example
How long will it take for an individual's $100,000 savings and $100 investment per month to become $1 million dollars?
| Field | Input |
|---|---|
| Initial investment | $100,000 |
| Each monthly investment | $100 |
| Annual rate of return | 10% |
| Years desired to become a millionaire | 20 |
In this example, it will take 22.1 years for the savings to become $1 million dollars. To obtain the goal of accumulating $1 million dollars in 20 years:
- increase the initial investment to $126,099.05,
- increase the monthly investment to $351.86, or
- achieve an annual rate of return of 11.10%.
Note: This calculator compounds the earnings on investments monthly.
Copying and pasting investment schedules into Microsoft Excel or other applications
View this procedure to find out how you can copy investment schedules from this calculator to the application clipboard, and then paste them into Microsoft Excel or other applications.
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