Achieve My Savings Target

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Assumptions

The Savings Target calculator will determine what periodic payments you will need to make to achieve your savings goal.

Assumptions:

  • Ijarah (rent) rate remains constant for the savings term.
  • The total is calculated assuming the Ijarah (rent) earned being invested back into the savings account.
  • Inflation is not taken into account. Consider this when you are setting your savings target.
  • Account and transaction fees are not taken into account and it makes no allowance for any income tax payable on the Ijarah (rent) earned.
  • It uses a constant Ijarah (rent) rate for the full savings period and compounds on the same periodic basis as the frequency of savings payments you select
  • It assumes each year is divided into 52 weeks exactly, 26 fortnights and 12 months of equal length.
  • Payments are made at the start of each period that you have selected.
  • You can email your results to yourself and if you request, a copy of your results and contact information is sent to the web site owner.
  • You can print your results for future reference.
  • You should consult a finance professional before you make decisions based on this calculator.

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Total Ijarah (rent)

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You will reach your target in

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Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only.