Future Value Calculator

Find out what a starting amount and regular deposits will be worth after a number of periods.

Updated

Deposits are made at the

Future value (FV)

$18,820.96

Present value (PV)
$6,821.58
Total deposits
$3,000.00
Total interest
$10,820.96

$5,000.00 plus $200.00 deposited at the end of each of 15 periods, earning 7% per period. The present value is the future value discounted back at the same rate.

Future value breakdown

Starting amount: $5,000.00 (27%)Deposits: $3,000.00 (16%)Interest: $10,820.96 (57%)
  • Starting amount: $5,000.00 (27%)
  • Deposits: $3,000.00 (16%)
  • Interest: $10,820.96 (57%)

Growth by period

$0$9.4K$19KBalance: $5KBalance: $5.6KBalance: $6.1KBalance: $6.8KBalance: $7.4KBalance: $8.2KBalance: $8.9KBalance: $9.8KBalance: $11KBalance: $12KBalance: $13KBalance: $14KBalance: $15KBalance: $16KBalance: $17KBalance: $19KStarting amount + deposits: $5KStarting amount + deposits: $5.2KStarting amount + deposits: $5.4KStarting amount + deposits: $5.6KStarting amount + deposits: $5.8KStarting amount + deposits: $6KStarting amount + deposits: $6.2KStarting amount + deposits: $6.4KStarting amount + deposits: $6.6KStarting amount + deposits: $6.8KStarting amount + deposits: $7KStarting amount + deposits: $7.2KStarting amount + deposits: $7.4KStarting amount + deposits: $7.6KStarting amount + deposits: $7.8KStarting amount + deposits: $8K015 periods
  • Balance
  • Starting amount + deposits

Schedule

PeriodDeposits to dateInterest to dateEnding balance
1$200.00$350.00$5,550.00
2$400.00$738.50$6,138.50
3$600.00$1,168.20$6,768.20
4$800.00$1,641.97$7,441.97
5$1,000.00$2,162.91$8,162.91
6$1,200.00$2,734.31$8,934.31
7$1,400.00$3,359.71$9,759.71
8$1,600.00$4,042.89$10,642.89
9$1,800.00$4,787.89$11,587.89
10$2,000.00$5,599.05$12,599.05
11$2,200.00$6,480.98$13,680.98
12$2,400.00$7,438.65$14,838.65
13$2,600.00$8,477.35$16,077.35
14$2,800.00$9,602.77$17,402.77
15$3,000.00$10,820.96$18,820.96

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How this future value calculator works

Enter the number of periods, a starting amount, the interest rate per period, and an optional deposit made every period. The future value calculator compounds the balance one period at a time and shows what it will be worth at the end, how much of that came from your deposits and how much from interest, and a period-by-period schedule.

A period can be any length, as long as the rate matches it. For yearly deposits, use the annual rate. For monthly deposits, enter the number of months and a monthly rate. If your annual rate is a nominal rate compounded monthly (an APR), divide it by 12. If it is an effective annual rate (an APY), use (1 + annual rate)1/12 − 1 instead: a 6% APY is about 0.487% a month, not 0.5%.

For example, $5,000 today plus $200 at the end of each year for 15 years at 7% grows to $18,820.96: $5,000 starting amount, $3,000 in deposits, and $10,820.96 in interest. If the deposits go in at the start of each year instead, the future value is $19,172.77.

Future value formula

With a starting amount PV, a rate per period i, N periods, and a deposit PMT at the end of each period, the future value formula is:

FV = PV × (1 + i)N + PMT × [(1 + i)N − 1] ÷ i

The first part is the starting amount with compound interest. The second part is the future value of an annuity: the deposits, each growing for the periods left after it is made. When deposits are made at the beginning of each period (an annuity due), every deposit earns one extra period of interest, so the second part is multiplied by (1 + i). With a 0% rate, the future value is simply the starting amount plus all deposits.

Frequently asked questions

How do you calculate future value?

Grow the starting amount by (1 + rate) once for every period, then add the future value of each deposit the same way. This FV calculator does that for you and lists the balance after every period, so you can check any step by hand.

What is the future value of money?

It is what an amount of money today will be worth at a later date once it has earned interest. It is one half of the time value of money: a dollar now is worth more than a dollar later because it can earn a return in the meantime. To solve for the rate, the payment, or the number of periods instead, use the TVM calculator.

Can I use this as a future value of annuity calculator?

Yes. Set the starting amount to $0 and enter the payment as the deposit per period. Choose "End of each period" for an ordinary annuity or "Beginning of each period" for an annuity due.

How is this different from a future value of investment calculator?

It is the same calculation. Enter what you invest now as the starting amount, what you add each period as the deposit, and your expected return per period as the interest rate. Actual investment returns vary from year to year, so the result is an estimate.

What does the present value in the results mean?

It is the future value discounted back to today at the same rate: the single amount you would need to invest now, with no deposits, to reach the same future value.

Limitations

The calculation assumes the same rate and the same deposit in every period, and that interest compounds once per period. It does not include taxes, fees, or inflation. Treat the result as an estimate, not financial advice.

What's changed
  • Launched.

References