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If there is an existing balance in this account, enter it here.
Partial years are allowed. For 12 1/2 years enter 12.5
If you want your monthly deposits to increase you can specify either a percentage or dollar amount by which to increase your monthly deposit. If the amount of increase is entered you will be prompted to enter the month numbers in which the increases begin and end.
The interest rate can be entered as either a pre-tax or after-tax rate. To enter an after-tax rate subtract out the portion of the interest rate that will be paid in taxes. For example, if the pre-tax rate is 4% and the marginal tax rate is 25%, subtract 1% (25% of 4%) from the pre-tax rate to arrive at an after-tax interest rate of 3%.
Deposit increases can start at the beginning of any month. If an increase is indicated but no month number is entered, increases will start at the first change interval.
Increases in deposits can end at the end of any month after they begin. If an increase is indicated but no month number is entered it will be assumed that increases will continue throughout the savings term specified.