Future Value of Annuity Solution

STEP 0: Pre-Calculation Summary
Formula Used
Future Value of Annuity = (Monthly Payment/(Interest Rate*0.01))*((1+(Interest Rate*0.01))^Number of Periods-1)
FVA = (p/(IR*0.01))*((1+(IR*0.01))^nPeriods-1)
This formula uses 4 Variables
Variables Used
Future Value of Annuity - Future Value of Annuity is the value of a group of recurring payments at a specified date in the future; these regularly recurring payments are known as an annuity.
Monthly Payment - The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off.
Interest Rate - Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.
Number of Periods - The Number of Periods is the periods on an annuity using the present value, periodic payment, and periodic rate.
STEP 1: Convert Input(s) to Base Unit
Monthly Payment: 28000 --> No Conversion Required
Interest Rate: 5.5 --> No Conversion Required
Number of Periods: 2 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
FVA = (p/(IR*0.01))*((1+(IR*0.01))^nPeriods-1) --> (28000/(5.5*0.01))*((1+(5.5*0.01))^2-1)
Evaluating ... ...
FVA = 57540
STEP 3: Convert Result to Output's Unit
57540 --> No Conversion Required
FINAL ANSWER
57540 <-- Future Value of Annuity
(Calculation completed in 00.004 seconds)

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Future value Calculators

Future Value of Present Sum given Compounding Periods
​ Go Future Value = Present Value*(1+((Rate of Return*0.01)/Compounding Periods))^(Compounding Periods*Number of Periods)
Future Value of Annuity
​ Go Future Value of Annuity = (Monthly Payment/(Interest Rate*0.01))*((1+(Interest Rate*0.01))^Number of Periods-1)
Future Value of Present Sum given Number of Periods
​ Go Future Value = Present Value*exp(Rate of Return*Number of Periods*0.01)
Future Value of Present Sum given Total Number of Periods
​ Go Future Value = Present Value*(1+(Rate of Return*0.01))^Number of Periods

Future Value of Annuity Formula

Future Value of Annuity = (Monthly Payment/(Interest Rate*0.01))*((1+(Interest Rate*0.01))^Number of Periods-1)
FVA = (p/(IR*0.01))*((1+(IR*0.01))^nPeriods-1)

How to Calculate Future Value of Annuity?

Future Value of Annuity calculator uses Future Value of Annuity = (Monthly Payment/(Interest Rate*0.01))*((1+(Interest Rate*0.01))^Number of Periods-1) to calculate the Future Value of Annuity, The future value of annuity is the value of a group of recurring payments at a specified date in the future; these regularly recurring payments are known as annuity. Future Value of Annuity is denoted by FVA symbol.

How to calculate Future Value of Annuity using this online calculator? To use this online calculator for Future Value of Annuity, enter Monthly Payment (p), Interest Rate (IR) & Number of Periods (nPeriods) and hit the calculate button. Here is how the Future Value of Annuity calculation can be explained with given input values -> 57540 = (28000/(5.5*0.01))*((1+(5.5*0.01))^2-1).

FAQ

What is Future Value of Annuity?
The future value of annuity is the value of a group of recurring payments at a specified date in the future; these regularly recurring payments are known as annuity and is represented as FVA = (p/(IR*0.01))*((1+(IR*0.01))^nPeriods-1) or Future Value of Annuity = (Monthly Payment/(Interest Rate*0.01))*((1+(Interest Rate*0.01))^Number of Periods-1). The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off, Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets & The Number of Periods is the periods on an annuity using the present value, periodic payment, and periodic rate.
How to calculate Future Value of Annuity?
The future value of annuity is the value of a group of recurring payments at a specified date in the future; these regularly recurring payments are known as annuity is calculated using Future Value of Annuity = (Monthly Payment/(Interest Rate*0.01))*((1+(Interest Rate*0.01))^Number of Periods-1). To calculate Future Value of Annuity, you need Monthly Payment (p), Interest Rate (IR) & Number of Periods (nPeriods). With our tool, you need to enter the respective value for Monthly Payment, Interest Rate & Number of Periods and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
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