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Five hundred a month for ten years
Deposit 500 at the end of each month, earn 5% a year, and run it for 10 years. That is 120 deposits. The closed-form ordinary-annuity formula adds them up after monthly compounding. Total cash in is 60,000.
Deposit each period: 25% lower
Change deposit each period to 375 while keeping the other example values the same.
Deposit each period: 25% higher
Change deposit each period to 625 while keeping the other example values the same.
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Quick answer
What does the Future value of an annuity calculate?
What do equal deposits grow to if each one compounds at this rate? This calculator uses deposit each period, annual interest rate, years, deposits per year, and when each deposit lands to estimate ending value of equal deposits immediately in your browser.
With the values currently entered, the result is $77,641.14 — ordinary-annuity future value. It also shows total deposited, interest earned, and number of deposits.
How to use the Future value of an annuity
- Replace the example values with your own numbers.
- Review the result and supporting figures as they update automatically.
- Check the formula and assumptions before using the estimate for a decision.
Inputs used
- Deposit each period
- Annual interest rate — entered in %
- Years — entered in years
- Deposits per year
- When each deposit lands
Future value of an annuity formula
Ordinary FV = PMT × ((1+r)^n − 1) ÷ r. Annuity due multiplies that result by (1+r). r is the periodic rate and n is the number of deposits.
Assumptions
- This is the future value of a level payment stream, not an insurance annuity contract. Investor.gov defines future value as what money is worth on a later date.
- Each deposit is the same size. The rate stays constant. Fees, taxes, and a starting lump sum are excluded. End-of-period deposits are an ordinary annuity. Start-of-period deposits are an annuity due.
Verify the inputs
Authoritative sources
These sources explain the definitions, factors, or rules behind this tool. Their geographic scope is shown because an official source for one country is not automatically valid somewhere else.
Definitions and disclosure rules for APR, mortgages, credit cards, and consumer loans.
Compound interestInvestor.gov — US Securities and Exchange CommissionScope: General method; US sourceA plain-language definition of interest earned on principal and accumulated interest.
Future valueInvestor.gov — US Securities and Exchange CommissionScope: General investor education; US sourceSEC glossary: future value is the value of an asset at a specified date in the future. Equal deposits grow by compound interest on each payment.
Sources do not endorse Calculum. Check the source date, scope, and your own documents before making a financial, tax, insurance, or reporting decision.
Practical guide
Future value of an annuity example and edge cases
An ordinary annuity here is a stream of equal deposits, not an insurance contract. Each payment compounds until the end date. Investor.gov calls that future value: what the money is worth on a later date.
Example: Five hundred a month for ten years
Deposit 500 at the end of each month, earn 5% a year, and run it for 10 years. That is 120 deposits. The closed-form ordinary-annuity formula adds them up after monthly compounding. Total cash in is 60,000.
- Deposit each period
- 500
- Annual interest rate
- 5 %
- Years
- 10 years
- Deposits per year
- Monthly (12)
- When each deposit lands
- End of each period (ordinary)
Calculated result$77,641.14ordinary-annuity future value
The ending balance is the future value of the payment stream. If you also have a starting lump sum, use the compound savings calculator. That one starts from a balance and then adds monthly deposits.
Example results use the default display profile. The calculator above follows your selected country and units.
How to read the result
- Read the ending value first. Then check total deposited. The gap is the interest the formula assigns to those equal deposits.
- Start-of-period deposits earn one extra period of interest. That is the annuity-due switch. This is still deposit math, not an insurance quote.
Edge cases worth checking
The deposits change size over time
This formula needs one repeating amount. If the deposit rises later, split the years and add the two future values, or use the compound savings calculator with a cautious average.
You are pricing an insurance annuity
Stop here. Investor.gov treats those contracts as insurance products with fees, surrender charges, and payout rules this calculator does not model.
What changes the result most
Deposit each period
Use a current amount for deposit each period. Include fees or recurring costs that belong in the same figure.
Annual interest rate
Test a lower and higher annual interest rate. A small percentage change can move the final result more than expected.
Years
Keep years on the same time basis as the other inputs. Monthly and annual values are easy to mix up.
Try a different scenario
Small changes show whether the answer is stable or sensitive.
Deposit each period: 25% lower
375$58,230.85ordinary-annuity future value
Deposit each period: 25% higher
625$97,051.42ordinary-annuity future value
Annual interest rate: 25% higher
6 %$81,939.67ordinary-annuity future value
Common mistakes
Check deposit each period
This is the future value of a level payment stream, not an insurance annuity contract. Investor.gov defines future value as what money is worth on a later date. Make sure this matches the number you enter.
Keep when each deposit lands consistent
Each deposit is the same size. The rate stays constant. Fees, taxes, and a starting lump sum are excluded. End-of-period deposits are an ordinary annuity. Start-of-period deposits are an annuity due. Use the same units and time period throughout the calculation.
Do not rely on one future value of an annuity scenario
Run a cautious case and an optimistic case. The range is often more useful than one exact-looking number.
Use this result well
What do equal deposits grow to if each one compounds at this rate?
A lender’s APR, fees, eligibility rules, and contract control the real offer.