Future value calculator

Future value is what an amount of money grows to by a set date at a set rate. Enter what you start with, what you add each period, the rate and the years. Then pick whether each deposit goes in at the start or the end of the period.

For a fixed rate with equal deposits · Free, no sign-up · The formula

Enter the yearly rate you want to test. As a point of reference, 3-month Treasury bills averaged 3.4% a year from 1928 to 2025.

Deposits and compounding
Each deposit goes in at the

After 15 years at the 3.40% you entered, with $100 a month at the end of each period, the future value would be

$31,759

Total deposited: $23,000. Interest earned: $8,759.

$8,320Your starting amount grows to
$23,438Your deposits grow to
$31,825With deposits at the start instead
Today8 years15 years
Your balanceWhat you put in
Save my plan

Hypothetical illustration based on your inputs. Not a prediction, a recommendation, or the performance of any Amaltash strategy.

How it works: your money grows at the fixed rate you enter. One deposit goes in each period, at the start or the end, as you choose. Real rates change over time.

Results change each time you change an input.

Real rates change. Fees, taxes and penalties are not included, and a rate you are offered can differ from this one.

See every year
YearDepositsInterest that yearTotal interestBalance
1$1,200$192$192$6,392
2$1,200$240$431$7,831
3$1,200$289$720$9,320
4$1,200$341$1,061$10,861
5$1,200$394$1,455$12,455
6$1,200$449$1,904$14,104
7$1,200$506$2,410$15,810
8$1,200$565$2,975$17,575
9$1,200$626$3,601$19,401
10$1,200$689$4,290$21,290
11$1,200$754$5,044$23,244
12$1,200$822$5,866$25,266
13$1,200$891$6,757$27,357
14$1,200$964$7,721$29,521
15$1,200$1,038$8,759$31,759

What is future value?

Future value answers one question: if I put money away now, how much will be there later? The answer depends on four things.

InputWhat it means
Starting amountMoney you put in on day one
DepositThe same amount added every period
RateThe yearly interest rate, split across the periods
TimeHow many years the money sits

A future value calculator does this math for you. It works for one lump sum, for regular deposits, or for both at once.

How do you calculate future value?

For one sum of money, you grow it by the rate once for each period.

FV=PV×(1+i)nFV = PV \times (1 + i)^{n}

In words: Multiply what you start with by one plus the rate, once for each period.

FVFV
the future value, what you end with
PVPV
the present value, what you start with
ii
the rate for one period, as a decimal
nn
the number of periods

A 6% yearly rate added monthly gives i = 0.06 ÷ 12 = 0.005, and 5 years of months gives n = 60.

Say $1,000 earns 6%, added once a year, for 5 years. Each year multiplies the last balance by 1.06:

YearMathValue
1$1,000 × 1.06$1,060.00
2$1,060.00 × 1.06$1,123.60
3$1,123.60 × 1.06$1,191.02
4$1,191.02 × 1.06$1,262.48
5$1,262.48 × 1.06$1,338.23

If I invest $500 a month for 20 years, what will I have?

It depends on the rate. This example puts $500 in at the end of each month, and interest is added monthly. The rates are made up and fixed, to show the math. They are not a forecast, and real investments can lose money.

Fixed yearly rateAfter 10 yearsAfter 20 yearsAfter 30 years
0% (deposits only)$60,000$120,000$180,000
2%$66,360$147,398$246,363
4%$73,625$183,387$347,025
6%$81,940$231,020$502,258

At 4% for 20 years, you put in $120,000 and interest adds $63,387. The longer the money sits, the bigger the share that comes from interest. Taxes, fees and rising prices are left out. Type your own amount and rate in the calculator above.

What is the future value of an annuity?

In math, an annuity means equal payments on a schedule, like $100 every year. It is not the annuity contract an insurance company sells. The future value of an annuity is what all those deposits add up to, with interest:

FV=PMT×(1+i)n−1iFV = PMT \times \frac{(1 + i)^{n} - 1}{i}

In words: Raise one plus the rate to the number of deposits. Take away one. Divide by the rate. Then multiply by one deposit.

FVFV
what all the deposits add up to
PMTPMT
one deposit, the same each period
ii
the rate for one period, as a decimal
nn
the number of deposits

Put $100 in at the end of each year for 3 years at 5%. The first $100 earns two years of interest, the last earns none:

YearDeposits so farValue at year end
1$100$100.00
2$200$205.00
3$300$315.25

The formula gives the same answer: $100 × (1.05³ − 1) ÷ 0.05 = $315.25.

Annuity due vs ordinary annuity: start or end of the period?

An ordinary annuity puts each deposit in at the end of the period. An annuity due puts it in at the start. A deposit at the start sits one period longer, so it earns one more round of interest. That gives a shortcut:

FVdue=FVordinary×(1+i)FV_{\text{due}} = FV_{\text{ordinary}} \times (1 + i)

In words: Work out the answer with deposits at the end. Then multiply it by one plus the rate.

FVdueFV_{\text{due}}
the value when each deposit goes in at the start
FVordinaryFV_{\text{ordinary}}
the value when each deposit goes in at the end
ii
the rate for one period, as a decimal

Here is the same $100 a year at 5%:

YearDeposit at the endDeposit at the start
1$100.00$105.00
2$205.00$215.25
3$315.25$331.01

Use the timing switch in the calculator to see the gap with your own numbers.

How much do I need to save each month to reach a goal?

Turn the annuity formula around. Start with the goal, then solve for the deposit:

PMT=FV×i(1+i)n−1PMT = FV \times \frac{i}{(1 + i)^{n} - 1}

In words: Multiply your goal by the rate. Then divide by one plus the rate, raised to the number of deposits, minus one.

PMTPMT
the deposit you need each period
FVFV
your goal
ii
the rate for one period, as a decimal
nn
the number of deposits

Say you want $20,000 in 5 years. Your account pays a made-up 3% a year, added monthly. So i = 0.03 ÷ 12 = 0.0025, and n = 60. The math says about $309.37 a month. You put in about $18,562 of your own, and interest adds the rest.

This uses one fixed rate. For a monthly amount tested against real past market rates, use the investment page.

Find a monthly amount with past market rates in the investment calculator →

Present value vs future value: what is the difference?

Future value moves money forward in time. Present value moves it back. It asks: what sum today grows into a goal later? Flip the formula:

PV=FV(1+i)nPV = \frac{FV}{(1 + i)^{n}}

In words: Divide the amount you want later by one plus the rate, once for each period.

PVPV
what you need to put in today
FVFV
the amount you want later
ii
the rate for one period, as a decimal
nn
the number of periods

Say you want $1,000 in 5 years and the rate is 4% a year. $1,000 ÷ 1.04⁵ = $821.93. Put in $821.93 now, and at 4% it reaches $1,000 in year 5.

What is the time value of money?

A dollar you have now is worth more than a dollar you get later. The dollar now can earn interest while you wait. That idea is called the time value of money. Future value and present value are its two tools.

At 3% a year, $100 today turns into $103 in a year. Turned around, $100 promised a year from now is worth $100 ÷ 1.03 = $97.09 today. Rising prices are a separate matter, and this math leaves them out.

A quick mental check: at 6% a year, money doubles in about 72 ÷ 6 = 12 years.

Work out your exact doubling time with the rule of 72 calculator →

How do monthly deposits change future value?

This calculator makes one deposit each time interest is added. Pick Monthly and you add money 12 times a year, and interest is added 12 times a year too.

Try $50 a month at 6% for 10 years, with no starting amount. You put in $6,000. With each deposit at the end of the month, it reaches $8,193.97. At the start of the month, it reaches $8,234.94, which is $40.97 more.

Daily compounding, and how a rate turns into an APY, live on the compound interest page.

Compare daily, monthly and yearly compounding in the compound interest calculator →

Future value of an investment vs a savings account

The math is the same for both. The difference is the rate. A savings account states its rate, though the bank can change it. Stocks and funds have no set rate, and they can lose money. So for an investment, any rate you type is a what-if, not a forecast.

See how a savings rate adds up month by month with the high-yield savings calculator →

Already know where an amount started and where it ended? One yearly rate links the two.

Find the yearly growth rate between two values with the CAGR calculator →

Future value stops on the day you stop adding money. Spending it down is a different question.

Test how long a nest egg could last with the retirement calculator →

Questions people ask

Should I pick start or end of period?

Pick the one that matches when your money really goes in. If you put money in early each month and interest is added at month end, that is close to the start. Textbooks use the end unless they say otherwise.

Is future value the same as compound interest?

They are linked. Compound interest is how the money grows. Future value is the total you end with, after that growth and all your deposits.

Can the future value be less than what I put in?

Not at a fixed rate above zero. At 0%, it equals what you put in. Real investments can lose money, and rising prices can shrink what the money buys.

Is the answer in today’s dollars?

No. It does not take out inflation, taxes or fees. To see it in today’s dollars, divide by (1 + yearly inflation) raised to the number of years.

What rate should I enter?

The rate your account or bond pays, or any rate you want to test. The result is a what-if at that rate, not a promise.

Can I use this as an annuity calculator?

Yes, in the math sense. Here an annuity means the same deposit on a set schedule. Set the starting amount to zero, then enter the deposit, rate and years. The result is the future value of that annuity.

What will my savings be worth in 10 years?

It depends on what you have, what you add and the rate. As a made-up example, $8,000 at a fixed 3% a year, with interest added once a year, grows to $10,751.33 in 10 years. Taxes and rising prices are left out.

More calculators

Investment calculatorPick an amount, a time and a real past average rate. See how it could add up.S&P 500 return calculatorPick a start year and a monthly amount. See what the real index did.CAGR calculatorTurn a start value and an end value into one yearly growth rate.Compound interest calculatorSee how interest earns interest at a fixed rate.Retirement calculatorTest a plan against every stretch of market history since 1928.Budget calculatorAdd up your pay and your spending. See what is left each month.

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Reviewed by Tavish Sharma, CFA · Last reviewed

Published by Amaltash Advisors LLC, an SEC-registered investment adviser

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