Calculators
Future Value Calculator
Enter a starting amount, a rate, the time and any regular payment to see the future value with the formula filled in. Switch the mode to solve for the present value, rate or number of periods.
Future value after 120 periods (10 years)
$34,581.90
- Rate per period (i)
- 0.5%
- Total paid in
- $22,000.00
- Interest earned
- $12,581.90
Working
FV = PV × (1 + i)^n + PMT × [(1 + i)^n − 1] ÷ i
FV = 10,000 × (1.005)^120 + 100 × [(1.005)^120 − 1] ÷ 0.005
FV = 18,193.967 + 16,387.935 = 34,581.902
i = 6% ÷ 12, n = 120. Values are rounded for display.
Period-by-period table
| Period | Payment | Interest | Balance |
|---|---|---|---|
| 1 | $100.00 | $50.00 | $10,150.00 |
| 2 | $100.00 | $50.75 | $10,300.75 |
| 3 | $100.00 | $51.50 | $10,452.25 |
| 4 | $100.00 | $52.26 | $10,604.52 |
| 5 | $100.00 | $53.02 | $10,757.54 |
| 6 | $100.00 | $53.79 | $10,911.33 |
| 7 | $100.00 | $54.56 | $11,065.88 |
| 8 | $100.00 | $55.33 | $11,221.21 |
| 9 | $100.00 | $56.11 | $11,377.32 |
| 10 | $100.00 | $56.89 | $11,534.20 |
| 11 | $100.00 | $57.67 | $11,691.87 |
| 12 | $100.00 | $58.46 | $11,850.33 |
| 13 | $100.00 | $59.25 | $12,009.59 |
| 14 | $100.00 | $60.05 | $12,169.63 |
| 15 | $100.00 | $60.85 | $12,330.48 |
| 16 | $100.00 | $61.65 | $12,492.13 |
| 17 | $100.00 | $62.46 | $12,654.60 |
| 18 | $100.00 | $63.27 | $12,817.87 |
| 19 | $100.00 | $64.09 | $12,981.96 |
| 20 | $100.00 | $64.91 | $13,146.87 |
| 21 | $100.00 | $65.73 | $13,312.60 |
| 22 | $100.00 | $66.56 | $13,479.16 |
| 23 | $100.00 | $67.40 | $13,646.56 |
| 24 | $100.00 | $68.23 | $13,814.79 |
| 25 | $100.00 | $69.07 | $13,983.87 |
| 26 | $100.00 | $69.92 | $14,153.79 |
| 27 | $100.00 | $70.77 | $14,324.56 |
| 28 | $100.00 | $71.62 | $14,496.18 |
| 29 | $100.00 | $72.48 | $14,668.66 |
| 30 | $100.00 | $73.34 | $14,842.00 |
| 31 | $100.00 | $74.21 | $15,016.21 |
| 32 | $100.00 | $75.08 | $15,191.29 |
| 33 | $100.00 | $75.96 | $15,367.25 |
| 34 | $100.00 | $76.84 | $15,544.09 |
| 35 | $100.00 | $77.72 | $15,721.81 |
| 36 | $100.00 | $78.61 | $15,900.42 |
| 37 | $100.00 | $79.50 | $16,079.92 |
| 38 | $100.00 | $80.40 | $16,260.32 |
| 39 | $100.00 | $81.30 | $16,441.62 |
| 40 | $100.00 | $82.21 | $16,623.83 |
| 41 | $100.00 | $83.12 | $16,806.95 |
| 42 | $100.00 | $84.03 | $16,990.98 |
| 43 | $100.00 | $84.95 | $17,175.94 |
| 44 | $100.00 | $85.88 | $17,361.82 |
| 45 | $100.00 | $86.81 | $17,548.62 |
| 46 | $100.00 | $87.74 | $17,736.37 |
| 47 | $100.00 | $88.68 | $17,925.05 |
| 48 | $100.00 | $89.63 | $18,114.67 |
| 49 | $100.00 | $90.57 | $18,305.25 |
| 50 | $100.00 | $91.53 | $18,496.77 |
| 51 | $100.00 | $92.48 | $18,689.26 |
| 52 | $100.00 | $93.45 | $18,882.70 |
| 53 | $100.00 | $94.41 | $19,077.12 |
| 54 | $100.00 | $95.39 | $19,272.50 |
| 55 | $100.00 | $96.36 | $19,468.87 |
| 56 | $100.00 | $97.34 | $19,666.21 |
| 57 | $100.00 | $98.33 | $19,864.54 |
| 58 | $100.00 | $99.32 | $20,063.86 |
| 59 | $100.00 | $100.32 | $20,264.18 |
| 60 | $100.00 | $101.32 | $20,465.50 |
| 61 | $100.00 | $102.33 | $20,667.83 |
| 62 | $100.00 | $103.34 | $20,871.17 |
| 63 | $100.00 | $104.36 | $21,075.53 |
| 64 | $100.00 | $105.38 | $21,280.90 |
| 65 | $100.00 | $106.40 | $21,487.31 |
| 66 | $100.00 | $107.44 | $21,694.75 |
| 67 | $100.00 | $108.47 | $21,903.22 |
| 68 | $100.00 | $109.52 | $22,112.74 |
| 69 | $100.00 | $110.56 | $22,323.30 |
| 70 | $100.00 | $111.62 | $22,534.92 |
| 71 | $100.00 | $112.67 | $22,747.59 |
| 72 | $100.00 | $113.74 | $22,961.33 |
| 73 | $100.00 | $114.81 | $23,176.13 |
| 74 | $100.00 | $115.88 | $23,392.02 |
| 75 | $100.00 | $116.96 | $23,608.98 |
| 76 | $100.00 | $118.04 | $23,827.02 |
| 77 | $100.00 | $119.14 | $24,046.16 |
| 78 | $100.00 | $120.23 | $24,266.39 |
| 79 | $100.00 | $121.33 | $24,487.72 |
| 80 | $100.00 | $122.44 | $24,710.16 |
| 81 | $100.00 | $123.55 | $24,933.71 |
| 82 | $100.00 | $124.67 | $25,158.38 |
| 83 | $100.00 | $125.79 | $25,384.17 |
| 84 | $100.00 | $126.92 | $25,611.09 |
| 85 | $100.00 | $128.06 | $25,839.14 |
| 86 | $100.00 | $129.20 | $26,068.34 |
| 87 | $100.00 | $130.34 | $26,298.68 |
| 88 | $100.00 | $131.49 | $26,530.18 |
| 89 | $100.00 | $132.65 | $26,762.83 |
| 90 | $100.00 | $133.81 | $26,996.64 |
| 91 | $100.00 | $134.98 | $27,231.62 |
| 92 | $100.00 | $136.16 | $27,467.78 |
| 93 | $100.00 | $137.34 | $27,705.12 |
| 94 | $100.00 | $138.53 | $27,943.65 |
| 95 | $100.00 | $139.72 | $28,183.36 |
| 96 | $100.00 | $140.92 | $28,424.28 |
| 97 | $100.00 | $142.12 | $28,666.40 |
| 98 | $100.00 | $143.33 | $28,909.73 |
| 99 | $100.00 | $144.55 | $29,154.28 |
| 100 | $100.00 | $145.77 | $29,400.05 |
| 101 | $100.00 | $147.00 | $29,647.06 |
| 102 | $100.00 | $148.24 | $29,895.29 |
| 103 | $100.00 | $149.48 | $30,144.77 |
| 104 | $100.00 | $150.72 | $30,395.49 |
| 105 | $100.00 | $151.98 | $30,647.47 |
| 106 | $100.00 | $153.24 | $30,900.71 |
| 107 | $100.00 | $154.50 | $31,155.21 |
| 108 | $100.00 | $155.78 | $31,410.98 |
| 109 | $100.00 | $157.05 | $31,668.04 |
| 110 | $100.00 | $158.34 | $31,926.38 |
| 111 | $100.00 | $159.63 | $32,186.01 |
| 112 | $100.00 | $160.93 | $32,446.94 |
| 113 | $100.00 | $162.23 | $32,709.18 |
| 114 | $100.00 | $163.55 | $32,972.72 |
| 115 | $100.00 | $164.86 | $33,237.59 |
| 116 | $100.00 | $166.19 | $33,503.77 |
| 117 | $100.00 | $167.52 | $33,771.29 |
| 118 | $100.00 | $168.86 | $34,040.15 |
| 119 | $100.00 | $170.20 | $34,310.35 |
| 120 | $100.00 | $171.55 | $34,581.90 |
Each payment is added at the end of the period, after interest.
Currency
FV = PV × (1 + i)n + PMT × [(1 + i)n − 1] ÷ i for payments at the end of each period; × (1 + i) on the payment part for payments at the start. Growing payments: PMT × [(1 + i)n − (1 + g)n] ÷ (i − g), or PMT × n × (1 + i)n − 1 when i = g. Here i = yearly rate ÷ periods per year, and one payment is made each period.
A constant rate with no taxes, fees or inflation is a simplification; real returns vary and are not guaranteed.
Calculated on your device — nothing is sent anywhere.
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Frequently asked questions
What is the future value formula?
For a single amount, FV = PV × (1 + i)^n, where i is the rate per period and n the number of periods. For a regular payment at the end of each period (an ordinary annuity), FV = PMT × [(1 + i)^n − 1] ÷ i. The calculator adds the two. For example, $1,000 at 5% a year compounded yearly for 10 years grows to $1,628.89.
What is the difference between an ordinary annuity and an annuity due?
In an ordinary annuity each payment is made at the end of the period, so the last one earns no interest. In an annuity due it is made at the start, so every payment earns one more period of interest, and the future value is the ordinary figure × (1 + i).
How does the growing annuity work?
The first payment is PMT and each later one is larger by the growth rate g, for example a deposit that rises with your salary. Its future value is PMT × [(1 + i)^n − (1 + g)^n] ÷ (i − g), and PMT × n × (1 + i)^(n − 1) when i equals g. For an annuity due, multiply by (1 + i).
Does it match Excel’s FV function?
Yes, for level payments. Excel’s FV uses the same formulas with type 0 for end-of-period and 1 for start-of-period payments, and treats money you pay in as negative. Microsoft’s example =FV(6%/12, 10, −200, −500, 1) gives $2,581.40; entering 500, 6% compounded monthly, 10 periods, a payment of 200 and “start of each period” here gives the same.
How are the rate and the number of periods solved?
The periods have a closed form for level payments: n = ln[(FV × i + A) ÷ (PV × i + A)] ÷ ln(1 + i), with A the payment (× (1 + i) for an annuity due). The rate has no closed form when there are payments, so the calculator searches for it numerically, as Excel’s RATE does. A fractional number of periods means the target is reached partway through a period.
What happens at a 0% rate?
Nothing grows: the future value is the starting amount plus the sum of the payments. For example, 1,000 plus 10 payments of 100 is 2,000. The calculator handles 0% exactly rather than dividing by zero.
About this tool
This future value calculator works out what money invested today and regular payments will be worth after a number of years at a fixed rate. It handles a lump sum on its own, level payments made at the end of each period (an ordinary annuity) or at the start (an annuity due), and payments that grow by a fixed percentage each period (a growing annuity). It can also work backwards: the present value needed today to reach a target, the interest rate required, or how many periods it will take.
The formulas are the standard time-value-of-money equations taught in finance courses: FV = PV × (1 + i)^n for the lump sum, PMT × [(1 + i)^n − 1] ÷ i for an ordinary annuity, × (1 + i) for an annuity due, and PMT × [(1 + i)^n − (1 + g)^n] ÷ (i − g) for a growing annuity. The rate per period i is the yearly rate divided by the compounding frequency, and n is the number of periods. With level payments the results match Excel’s FV, PV and NPER functions; the test suite reproduces Microsoft’s published examples, such as =FV(12%/12, 12, −1000) = $12,682.50.
Under the result, the calculator writes the formula out with your numbers substituted, so you can check the working by hand or copy it into homework or a spreadsheet, and a table shows the balance after every period. Payments are assumed to happen once per compounding period; if you save monthly but interest compounds yearly, the result will be slightly different from what an account statement would show.
The figures assume one constant rate for the whole time, with no taxes, fees or inflation. Real investment returns vary and are not guaranteed, so treat the result as an illustration rather than a forecast. Everything is calculated in your browser, and nothing you enter is sent anywhere.