Future Value Calculator
Calculate what a lump sum and regular payments will be worth at a future date.
About the Future Value Calculator
Future value adds the growth of a starting amount to the growth of a stream of equal payments. An annuity due (payments at the start of each period) is worth one period's extra interest compared with an ordinary annuity.
The formula
FV = PV(1 + i)ⁿ + PMT × ((1 + i)ⁿ − 1) ÷ i
- i
- rate per period (yearly rate ÷ payments per year)
- Annuity due
- multiply the payment part by (1 + i)
Worked example
Example: Future value = $45,483.21
- Inputs: Present value (lump sum): $11,000; Payment each period: $110; Rate per year: 7%; Years: 11 years; Payments: Monthly; Paid at the: End (ordinary annuity).
- Formula: FV = PV(1 + i)ⁿ + PMT × ((1 + i)ⁿ − 1) ÷ i
- Result: Future value = $45,483.21
Questions people ask
What's the FV function in Excel?
=FV(rate, nper, pmt, pv, type) gives the same result; note Excel uses negative signs for cash paid out.
Nominal or effective rate?
This divides the yearly rate by the number of payments, the usual convention for FV.