What’s the difference between FV and PV?

FV moves today’s money forward at a growth rate; PV discounts future money back to today at a discount rate. They are inverse operations.

Why does the first deposit earn more?

A deposit made at the beginning of a period sits in the account while interest accrues, so it compounds one extra period versus an end-of-period deposit.

What rate should I use?

Match the rate’s compounding to the period: annual rate with annual periods, or APR/12 with monthly periods.

Future Value Calculator

Compute the future value of money: a starting amount growing at a periodic rate plus deposits made at the beginning or end of every period. The schedule shows exactly how each period’s interest compounds on everything before it.

#future value#fv#time value of money#annuity#investment growth

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Presets

Number of Periods (N)

periods

Starting Amount (PV)

Interest Rate (I/Y)

% / period

Periodic Deposit (PMT)

$/period

PMT made at the

BeginningEnd

Live mode: results update as you type.

Future Value

$3,108.93

10 periods at 6.00% · PMT at end of period

Starting Amount (PV): $1,000.00
PV of Result: $1,736.01
Total Periodic Deposits: $1,000.00
Total Interest: $1,108.93
Final Balance: $3,108.93
Growth Multiple: 1.55×

Ending balance composition

Starting Amount$1,000
Deposits$1,000
Interest$1,109

Growth schedule

Period	Start Balance	Deposit	Interest	End Balance
1	$1,000.00	$100.00	$60.00	$1,160.00
2	$1,160.00	$100.00	$69.60	$1,329.60
3	$1,329.60	$100.00	$79.78	$1,509.38
4	$1,509.38	$100.00	$90.56	$1,699.94
5	$1,699.94	$100.00	$102.00	$1,901.93
6	$1,901.93	$100.00	$114.12	$2,116.05
7	$2,116.05	$100.00	$126.96	$2,343.01
8	$2,343.01	$100.00	$140.58	$2,583.59
9	$2,583.59	$100.00	$155.02	$2,838.61
10	$2,838.61	$100.00	$170.32	$3,108.93

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Formula

FV = PV(1+r)^N + PMT × [((1+r)^N − 1)/r] × (1+r if beginning)

• Each period the balance earns interest at rate r = I/Y ÷ 100
• Deposits at the beginning earn an extra period of interest (annuity due)
• End-of-period deposits form an ordinary annuity

Pro tips

• Beginning-of-period deposits (annuity due) always beat end-of-period by one period’s interest.
• Small rate gains compound dramatically over long horizons — 1% extra can mean thousands.
• Use N in years for annual rates or months with a monthly rate.

FAQ

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Future Value Calculator

#future value#fv#time value of money#annuity#investment growth

Live calculate

Presets

Number of Periods (N)

periods

Starting Amount (PV)

Interest Rate (I/Y)

% / period

Periodic Deposit (PMT)

$/period

PMT made at the

BeginningEnd

Live mode: results update as you type.

Future Value

$3,108.93

10 periods at 6.00% · PMT at end of period

Starting Amount (PV): $1,000.00
PV of Result: $1,736.01
Total Periodic Deposits: $1,000.00
Total Interest: $1,108.93
Final Balance: $3,108.93
Growth Multiple: 1.55×

Ending balance composition

Starting Amount$1,000
Deposits$1,000
Interest$1,109

Growth schedule

Period	Start Balance	Deposit	Interest	End Balance
1	$1,000.00	$100.00	$60.00	$1,160.00
2	$1,160.00	$100.00	$69.60	$1,329.60
3	$1,329.60	$100.00	$79.78	$1,509.38
4	$1,509.38	$100.00	$90.56	$1,699.94
5	$1,699.94	$100.00	$102.00	$1,901.93
6	$1,901.93	$100.00	$114.12	$2,116.05
7	$2,116.05	$100.00	$126.96	$2,343.01
8	$2,343.01	$100.00	$140.58	$2,583.59
9	$2,583.59	$100.00	$155.02	$2,838.61
10	$2,838.61	$100.00	$170.32	$3,108.93

Most useful next

Formula

FV = PV(1+r)^N + PMT × [((1+r)^N − 1)/r] × (1+r if beginning)

• Each period the balance earns interest at rate r = I/Y ÷ 100
• Deposits at the beginning earn an extra period of interest (annuity due)
• End-of-period deposits form an ordinary annuity

Pro tips

• Beginning-of-period deposits (annuity due) always beat end-of-period by one period’s interest.
• Small rate gains compound dramatically over long horizons — 1% extra can mean thousands.
• Use N in years for annual rates or months with a monthly rate.

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