Future Value Calculator
Determine the future value of a lump sum investment or regular periodic savings.
This page is scoped to a single lump sum: a starting principal that grows at a per-period rate, with the formula FV = PV × (1 + r)n at the center of the page. An optional periodic deposit is also supported, but the worked examples and formula layout are organized around the one-time investment. If your scenario is a recurring-deposit savings plan, the Compound Interest Calculator frames the same compound math around recurring contributions. Both calculators can handle either input.
Future Value (FV) grows a present sum and a stream of deposits by the per-period rate over n periods: FV = PV × (1 + r)n + PMT × ((1 + r)n − 1) / r when r > 0 (or PV + PMT × n when r = 0). The rate must match the period length, and PMT deposits are assumed to land at the end of each period. Example: $1,000 today at 5% per period for 10 periods grows to $1,628.89, with $628.89 of interest; the same $1,000 plus $100 per period reaches $2,886.68. A pure $100-per-period annuity at 5% for 10 periods totals $1,257.79. With 2.5% annual inflation, the $1,628.89 above is about $1,272.49 in today's purchasing power, with $356.40 of inflation erosion over the 10 periods; a $200/month annuity for 30 years (360 periods) at 7%/12 per period reaches $243,994.20 nominal, $116,322.45 real, and $127,671.75 erosion.
| Period | Future Value at This Period |
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Formula:
FV = PV × (1 + r)n + PMT × ((1 + r)n − 1) / r(for r > 0)FV = PV + PMT × n(when r = 0)- Standard ordinary annuity formula: payments are made at the end of each period.
How future value works
The intuition
Future Value (FV) calculates what a sum of money invested today — or a stream of recurring deposits — will grow to after compounding at a given interest rate over a set number of periods. Because interest generates its own interest over time, exponential growth accelerates your total wealth.
Ordinary annuity vs. annuity due
This calculator computes an ordinary annuity, where recurring deposits happen at the end of each period (standard for most retirement accounts and savings plans). In contrast, an annuity due deposits money at the beginning of each period, multiplying the annuity component by (1 + r).
Using Excel or a TI-84 calculator
In Microsoft Excel or Google Sheets, the corresponding formula is =FV(rate, nper, pmt, [pv], [type]). Because financial spreadsheets follow cash-flow accounting conventions (cash outflows are negative), enter deposits as negative values to get a positive future balance: =FV(5%, 10, -100, -1000, 0) gives 2886.68. On a TI-84 financial solver, enter N=10, I%=5, PV=-1000, PMT=-100, and solve for FV.
Worked examples
Example 1: Lump sum $1,000 at 5% for 10 periods (PMT = 0)
Enter PV = 1000, PMT = 0, rate = 5, periods = 10. The lump sum grows to $1,628.89 (1628.89).
Example 2: Pure annuity of $100/period for 10 periods at 5% (PV = 0)
Enter PV = 0, PMT = 100, rate = 5, periods = 10. The accumulated annuity equals $1,257.79 (1257.79).
Example 3: Combined principal and annuity at 5% for 10 periods
Enter PV = 1000, PMT = 100, rate = 5, periods = 10. The total future value combines both parts to reach $2,886.68 (2886.68).
Related tools
Future value is the direct counterpart of the Present Value Calculator, which discounts a future sum back to today's dollars.
- Multi-decade growth tracking. For visual balance accumulation and interest breakdowns over decades, see our calculator for compound interest growth.
- Reverse calculations. If you already know your target balance and want to solve for the monthly contribution needed, use the Savings Goal Calculator.
- Cash flow series. For uneven streams of cash inflows and outflows, calculate net value with the NPV / IRR Calculator.
- Borrowing and amortization. To model amortized debt repayment rather than accumulation, use the Loan Calculator.
Frequently asked questions
Can I calculate future value if interest rate is 0%?
Yes. When the rate is 0%, no compounding occurs and the formula simplifies to FV = PV + PMT × n. For example, $1,000 principal plus 10 deposits of $100 equals $2,000.
How do I input annual vs. monthly periods?
Ensure that the interest rate matches the frequency of your periods. If deposits are monthly for 10 years (120 periods), divide your annual interest rate by 12 (e.g. 6% annual becomes 0.5% per month), and set Period Unit to Months.
Does this result account for inflation or taxes?
No. The calculation provides a nominal, pre-tax value. To estimate purchasing power in real terms, adjust the interest rate downwards by the expected inflation rate. The calculator's Inflation Rate field does this automatically — fill it in and the result area shows today's purchasing power and the inflation erosion.
How do I add an inflation rate to the calculation?
Enter the annual inflation rate in the optional Inflation Rate field (e.g., 2.5 or 0.025). The result area then shows today's purchasing power (FV ÷ (1 + i)n, n = years — when Period Unit is Months, n = periods ÷ 12) and the inflation erosion, and the chart adds a real-value line. Leave the field blank to keep the nominal-only view.
What is the future value formula?
For an ordinary annuity with an initial principal, FV = PV * (1 + r)^n + PMT * ((1 + r)^n - 1) / r, where PV is present value, PMT is periodic payment, r is rate per period, and n is number of periods.
What is the difference between an ordinary annuity and an annuity due?
In an ordinary annuity, payments occur at the end of each period. In an annuity due, payments occur at the beginning of each period, earning an extra period of compounding interest.
How does this compare to Excel's FV function?
Excel uses =FV(rate, nper, pmt, [pv], [type]). Note that Excel assumes cash flow signs: outgoing cash flows are entered as negative numbers to return a positive future value.
How is this different from the Compound Interest Calculator?
Mathematically, neither: both apply FV = PV × (1 + r)n with an optional periodic-deposit term, so either one can model a lump sum or recurring deposits. The difference is framing — this page organizes the formula and worked examples around a single lump sum, while the Compound Interest Calculator organizes the same math around a recurring-deposit savings plan with a period-by-period contribution schedule. Use this page when a one-time investment drives your question, and the other when recurring deposits do.