Future value calculator
Project what money today and regular deposits grow to.
- Formula and assumptions shown
- Table and CSV export
- Runs in your browser
How it works
Future value answers a time-value-of-money question: what will a present amount, plus a regular contribution, be worth after a number of years at a steady rate? Contributions and compounding happen at the same frequency.
FV = PV × (1 + i)^n + PMT × ((1 + i)^n − 1) ÷ i × (1 + i if contributions are at the beginning), where i = annual rate ÷ periods per year and n = years × periods per year. When i = 0, FV = PV + PMT × n.
Contributions made at the beginning of each period earn one more period of interest than those made at the end (an annuity due versus an ordinary annuity), so the timing setting changes the result.
Assumptions
- The rate is constant and compounds at the selected frequency.
- One contribution is made each period, at the beginning or end as selected.
- Taxes, fees, inflation, and market swings are excluded.
- The projection is limited to 50 years.
Worked example
$10,000 plus $200 a month at 6% for 10 years
With monthly compounding and end-of-month contributions, the future value is $50,969.84: $10,000 to start, $24,000 of contributions, and $16,969.84 of growth. Contributing at the beginning of each month instead gives $51,133.72.
Step by step
- Find the periodic rate and the number of periods. i = 6% ÷ 12 = 0.5% a month, and n = 10 × 12 = 120 monthly periods.
- Grow the present value. (1.005)^120 = 1.8194, so the $10,000 starting amount grows to $18,193.97.
- Grow the contributions. The annuity factor is (1.8194 − 1) ÷ 0.005 = 163.8793, so 120 end-of-month deposits of $200 grow to $200 × 163.8793 = $32,775.87.
- Add the parts. $18,193.97 + $32,775.87 = $50,969.84 future value. Growth is $50,969.84 − $10,000 − $24,000 = $16,969.84.
- Switch to beginning-of-period deposits. An annuity due multiplies the contribution part by 1.005: $32,775.87 × 1.005 = $32,939.75, for a future value of $51,133.72.
How to read your result
Future value is the balance at the end of the last period. Starting amount and Total contributions are the money put in, and Growth is everything the rate added. The breakdown shows those three parts of the final balance.
The yearly table lists the future value, the amount contributed so far, and the growth at the end of each year. In the example, year 1 ends at $13,083.89 against $12,400 contributed, so growth is $683.89; by year 10 growth is $16,969.84. The chart draws the balance above the contributed line so the widening gap is visible.
The result is in future dollars and assumes a constant rate, one contribution each period, and no taxes, fees, or withdrawals. Contributions and compounding share one frequency, so annual compounding also means one yearly deposit. The inflation calculator can restate the result in today’s dollars.
What changes the result most
- Rate
- At 7% instead of 6%, the 10-year future value is $54,713.58, which is $3,743.74 more. At 5% it is $47,526.55, the same as the compound interest calculator’s example.
- Time
- Over 20 years the same plan reaches $125,510.22. Contributions double to $48,000, while growth rises from $16,969.84 to $67,510.22.
- Frequency
- Putting in the same $2,400 a year as one annual deposit, with annual compounding, gives $49,542.38; quarterly deposits of $600 give $50,700.92, compared with $50,969.84 monthly.
Questions
How is this different from the compound interest calculator?
It is the same growth idea with more control: you choose annual, quarterly, or monthly periods and whether contributions come at the start or end of each period.
Does it adjust for inflation?
No. The result is in future dollars. Use the inflation calculator to see what that amount may be worth in today's dollars.
Which rate does the calculator expect?
It takes whatever annual rate you enter as an assumption, such as a savings account's APY or an assumed investment return. The result is only as reliable as that assumption; investment returns vary and are not guaranteed.
How do you calculate future value?
For a single amount, FV = PV × (1 + i)^n, where i is the rate per period and n the number of periods. $10,000 at 0.5% a month for 120 months is $10,000 × 1.005^120 = $18,193.97. Regular contributions add the future value of an annuity on top.
How do you calculate the future value of an annuity?
For deposits at the end of each period (an ordinary annuity), FV = PMT × ((1 + i)^n − 1) ÷ i. For deposits at the start of each period (an annuity due), multiply that result by (1 + i). With $200 a month at 0.5% for 120 months, that is $32,775.87 for end-of-month deposits and $32,939.75 for beginning-of-month deposits.
More in Savings & investing
Sources
These references explain the concepts behind the calculation. They do not endorse this site. Estimates leave out any cost or condition you did not enter.