Annuity Future Value Calculator
An annuity is a series of equal payments made at regular intervals, such as a monthly contribution into a retirement account or a monthly withdrawal from it. The future value tells you what the whole stream grows to by the end of the term, the present value tells you what that stream is worth in today's money, and the gap between them is the effect of compounding.
Future value
$231,020.45
- Present value
- $69,790.39
- Total paid in
- $120,000.00
- Interest earned
- $111,020.45
Values update as you type. This calculator covers the single scenario its formula assumes — see Common Mistakes for what it leaves out.
The formula this calculator uses
FV = PMT x ((1 + i)^n - 1) / i
- PMT
- Payment made each period
- i
- Interest rate per period
- n
- Number of periods
How to check the result by hand
- 1
Match the rate to the payment frequency
Divide the annual rate by the number of payments a year. Six percent a year paid monthly is half a percent a month.
- 2
Count the periods
Multiply the number of years by the payments per year. Twenty years of monthly payments is two hundred and forty periods.
- 3
Build the annuity factor
Raise one plus the periodic rate to the number of periods, subtract one, and divide by the periodic rate.
- 4
Multiply by the payment
The annuity factor times the payment gives the future value of an ordinary annuity. Multiply by one plus the periodic rate for an annuity due.
- 5
Split the result
The payment times the number of periods is the total paid in. The future value minus that total is the interest earned.
For worked examples, common mistakes and the limits of this formula, read the full How To Calculate Annuity Future Value page.