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Future Value of Annuity

An annuity is a series of payments made at equal intervals. The future value of an annuity is the accumulated amount, including payments and interest, of a stream of payments made to an interest-bearing account.

The future value of an annuity depends on the value of periodic payments multiplied by the interest compounded over the number of periods, accounting for the frequency of payments and any growth in the periodic payments.

Formula

QuantityVariable["FV", "Money"] == ((-(1 + QuantityVariable["g", "Unitless"])^(QuantityVariable["f", "Unitless"]*QuantityVariable["n", "Unitless"]) + (1 + QuantityVariable["i", "Unitless"]/QuantityVariable["f", "Unitless"])^QuantityVariable["n", "Unitless"])*QuantityVariable["PMT", "Money"])/(-QuantityVariable["g", "Unitless"] + QuantityVariable["i", "Unitless"]/QuantityVariable["f", "Unitless"])

symbol description physical quantity
FV future value "Money"
g periodic payment growth rate "Unitless"
f payments per period "Unitless"
i interest rate "Unitless"
n number of periods "Unitless"
PMT periodic payment "Money"

Forms

Examples

Get the resource:

In[1]:=
ResourceObject["Future Value of Annuity"]
Out[1]=

Get the formula:

In[2]:=
FormulaData[ResourceObject["Future Value of Annuity"]]
Out[2]=

Use some values:

In[3]:=
FormulaData[ ResourceObject[ "Future Value of Annuity"], {QuantityVariable["i","Unitless"] -> Quantity[8, "Percent"], QuantityVariable["f","Unitless"] -> 1, QuantityVariable["PMT","Money"] -> Quantity[1000, "USDollars"], QuantityVariable["n","Unitless"] -> 4, QuantityVariable["g","Unitless"] -> Quantity[3, "Percent"]}]
Out[3]=

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