Annuity Calculator (Future Value)
Find the future value of a series of equal payments growing at a fixed rate.
The future value of an annuity is what a series of equal payments grows to at a fixed rate. Paying $500 a month at a 5% return for 20 years grows to about $205,500. The formula for an ordinary annuity is FV = PMT × [((1 + i)^n − 1) / i]. Note: this finds the future value of payments you make, not the payout of an insurance annuity. Enter your payment and rate.
These results are estimates for informational purposes only and are not financial, tax, or legal advice. Your actual figures from a lender or the IRS may differ. Consult a qualified professional before making decisions.
Future value after 20 years
$205,516.83
What you put in vs. interest earned
Balance by year
| Year | You put in | Interest | Balance |
|---|---|---|---|
| 1 | $6,000 | $139 | $6,139 |
| 2 | $12,000 | $593 | $12,593 |
| 3 | $18,000 | $1,377 | $19,377 |
| 4 | $24,000 | $2,507 | $26,507 |
| 5 | $30,000 | $4,003 | $34,003 |
| 6 | $36,000 | $5,882 | $41,882 |
| 7 | $42,000 | $8,164 | $50,164 |
| 8 | $48,000 | $10,870 | $58,870 |
| 9 | $54,000 | $14,022 | $68,022 |
| 10 | $60,000 | $17,641 | $77,641 |
| 11 | $66,000 | $21,753 | $87,753 |
| 12 | $72,000 | $26,382 | $98,382 |
| 13 | $78,000 | $31,555 | $109,555 |
| 14 | $84,000 | $37,299 | $121,299 |
| 15 | $90,000 | $43,644 | $133,644 |
| 16 | $96,000 | $50,621 | $146,621 |
| 17 | $102,000 | $58,262 | $160,262 |
| 18 | $108,000 | $66,601 | $174,601 |
| 19 | $114,000 | $75,673 | $189,673 |
| 20 | $120,000 | $85,517 | $205,517 |
About the Annuity Calculator
An annuity, in the financial-math sense, is simply a stream of equal payments made at regular intervals, and this calculator finds its future value — what those payments grow to by the end. That is the accumulation question: if I set aside the same amount every period and it earns a steady return, how much will I have? The formula for an ordinary annuity, where each payment lands at the end of the period, is FV = PMT × [((1 + i)^n − 1) / i], with i the periodic rate and n the number of payments. If payments are made at the start of each period instead — an annuity due — each one earns one extra period of growth, so the total is slightly higher. It is worth being clear about a naming overlap: an insurance annuity is a different product, one you buy with a lump sum in exchange for a stream of income later, and its price depends on interest rates and life expectancy rather than the simple formula here. This tool answers the savings-annuity question — the future value of money you pay in — not the income an insurance contract would pay out.
Frequently asked questions
What is the future value of an annuity?+
It's the total that a series of equal, regular payments grows to by a future date, given a fixed rate of return. It combines every payment plus all the compound growth those payments earn.
What's the difference between an ordinary annuity and an annuity due?+
In an ordinary annuity each payment is made at the end of the period; in an annuity due it's made at the beginning. Because annuity-due payments earn one extra period of growth, its future value is slightly higher. This tool models an ordinary annuity.
Is this the same as an insurance annuity?+
No. This calculates the future value of payments you make (a savings annuity). An insurance annuity is a product you buy to receive income later; its value depends on interest rates and life expectancy, not this formula.
What is the annuity future-value formula?+
For an ordinary annuity, FV = PMT × [((1 + i)^n − 1) / i], where PMT is the payment, i the periodic interest rate, and n the number of payments. Multiply by (1 + i) for an annuity due.