ISA calculator?

newuser78

http://www.moneysavingexpert.com/savings/best-cash-isa#savingscalc

Maybe I am being thick at the moment (blasted flu!) but I thought the figures do not add up:

"How much will I have in the future"

• £12,000 already have
• £400 per month
• 3.5%
• 2 Years

Result: £22,806.91


"I'm saving up for.. how much should I save each month?"

• £20,000 need to save
• £12,000 already have
• 3.5%
• 2 years

Result: £287.18/month


So in theory, if I want £32,000 in total, I just need to save up £287 per month or.... if I continue to save up £400/month, I end up with £22,806? :huh:


Many thanks in advance!

jimjames

I think the 2nd one is assuming your target is £20000 (not £32000) hence the lower amount for 2 yrs

fiesta04

Beat me to it jj

F4

newuser78

thanks guys - so the calculator needs to be tweaked or perhaps reworded? To me "How much do I need to save" is different to "How much do I want to save in total".

That might just be me!