Future Value (FV) Calculator

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Future Value is the value of a current sum of money at a specified date in the future, based on an assumed rate of growth. More info →

Input

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How This Calculator Works

Future Value shows what a sum you have today will grow to, if it earns a fixed annual interest rate that compounds once a year. Interest is earned on the interest already added, so growth speeds up over time.

The Formula

FV = PV × (1 + r)ⁿ

PV = present value · r = annual interest rate · n = years + months ÷ 12

What Each Input Does

Present Value: The amount you invest or hold today.
Interest Rate (%): The annual rate the money is expected to earn, compounded yearly.
Number of Years / Number of Months: How long the money grows. Months are added as a fraction of a year, so 5 years and 6 months is 5.5 years.

Step by Step

Years and months are combined into one period in years.
The growth factor (1 + r)ⁿ is worked out.
The present value is multiplied by the growth factor.
The result is rounded to the nearest whole amount. Growth is the future value minus the present value.

Reading the Result

Higher rate or longer time – a larger future value.

0% rate – the future value equals the present value.

Quick Example

Present value 10,000, interest rate 6%, 5 years 6 months. The period is 5.5 years, so FV = 10,000 × 1.06^5.5 = 13,778, a growth of 3,778.