Finance tools
Time value of money calculator
Free future value calculator and full time value of money (TVM) tool. Solve for future value, periodic payment, interest rate, or number of periods — plus present value mode for quick checks. Deposits or withdrawals, compounding frequency, growth chart, paginated schedule, and CSV/PDF export. No sign-up.
What is time value of money?
Time value of money (TVM) is the idea that a dollar today is worth more than the same dollar in the future because money can earn interest. Future value (FV) projects what you have today forward; present value (PV) discounts a future amount back to today.
Classic TVM uses five variables: PV, FV, PMT (periodic payment), rate, and N (periods). This calculator solves for any one of them when you provide the other four — matching finance textbooks and Excel FV(), PV(), PMT(), RATE(), and NPER().
Five solve modes
Future value, present value, payment, rate, or periods — live results.
Deposits or withdrawals
Model savings contributions or retirement withdrawals per period.
Period schedule + chart
Paginated schedule table and growth line chart on mobile.
CSV/PDF export
Download inputs and headline results for models or sharing.
Future value formula
The basic future value formula for a lump sum is:
Lump sum and annuity FV
FV = PV × (1 + i)nFVannuity = PMT × ((1 + i)n − 1) / i
Where i is the periodic interest rate from your annual rate and compounding frequency, and n is the number of periods. Payments at the beginning of each period multiply the annuity term by (1 + i).
Worked example (annuity + lump sum): $1,000 starting balance plus $100 deposited each period for 10 periods at 6% per year (annual compounding) → FV ≈ $3,108.93. Try the preset chips above to load this scenario instantly.
Lump-sum only: $10,000 at 6% for 10 periods (no deposits) → FV ≈ $17,908.48. Use the Lump sum 10y preset to verify.
Future value of an annuity
A future value of annuity calculator models equal payments (PMT) each period plus optional starting balance (PV). The annuity portion is:
Ordinary annuity FV
FVannuity = PMT × ((1 + i)n − 1) / iAdd lump-sum growth PV × (1 + i)n for the full balance. Set Payment mode to solve PMT when you know PV, target FV, rate, and periods — or use Future value mode when PMT is known.
Example: $100/month for 10 years (120 months) at 6% annual with monthly compounding and no starting balance → FV ≈ $16,247.34. For beginning-of-month deposits, switch payment timing to Beginning of period in the advanced panel.
Future value with monthly compounding
Most savings and retirement accounts compound monthly even when you quote an annual rate. To match that in this calculator, set Compounding to Monthly and set Number of periods to total months (e.g. 120 for 10 years).
The periodic rate is i = (1 + annual rate)1/12 − 1 — the calculator applies this automatically. Enter your monthly contribution as Periodic deposit (PMT) and keep payment timing at end of period unless your plan uses beginning-of-month deposits.
Example: $5,000 today plus $100/month for 120 months at 5% annual rate with monthly compounding → FV ≈ $23,580.79. For long-horizon savings narratives with compare/goal modes, also see our compound interest calculator.
Present value calculator
A present value calculator answers: “What is a future dollar worth today?” Switch to Present value mode, enter your target future value, rate, periods, and compounding — the tool returns today’s PV.
PV = FV / (1 + i)nWith equal periodic payments, the engine discounts the annuity stream using the same periodic rate i and payment timing you select.
Worked example: what is $1,000 received in 10 years worth today at 6% (annual compounding, no deposits)? PV ≈ $558.39. Load the Present value discount preset to reproduce this result. For a PV-first page with lump sum and annuity tabs, use our dedicated present value calculator — this TVM tool also solves payment, rate, and periods. For net present value (NPV) on irregular business cash flows, see our NPV calculator.
Future value vs present value vs compound interest
Present value discounts future cash flows to today: PV = FV / (1 + i)n. Use Present value mode above when you know a target future amount and want today’s equivalent.
A compound interest calculator emphasizes savings narratives — monthly contributions, compare/goal modes, and long-horizon charts. This FV tool uses classic TVM inputs (periods, PMT per period, compounding frequency) that match finance textbooks and Excel FV().
For irregular project cash flows in capital budgeting (Year 1–N inflows that differ each year), use our NPV calculator — lump-sum TVM here; project NPV there.
A CAGR calculator annualizes growth between two endpoints; use it when you only have start/end values and years, not periodic deposits. Related: simple interest calculator, APY calculator, inflation calculator.
How to calculate future value in Excel
Excel’s TVM functions map directly to the five solve modes on this calculator:
| Solve for | Excel function |
|---|---|
| Future value | =FV(rate, nper, pmt, pv, type) |
| Present value | =PV(rate, nper, pmt, fv, type) |
| Periodic payment | =PMT(rate, nper, pv, fv, type) |
| Interest rate | =RATE(nper, pmt, pv, fv, type) |
| Number of periods | =NPER(rate, pmt, pv, fv, type) |
rate is the interest rate per compounding period (annual rate ÷ periods per year). nper is total periods. pmt and pv use opposite signs for money in vs out (deposits negative in Excel convention). type is 0 for end-of-period payments, 1 for beginning.
Example — FV with monthly deposits: 6% annual compounded monthly for 10 years with $100/month and $1,000 starting balance: =FV(6%/12, 120, -100, -1000, 0).
When to use this calculator
Use a future value calculator when you have (or can assume) a fixed rate and regular compounding:
- Savings plans — starting balance plus equal deposits each month or year (Future value or Payment mode).
- Retirement or 401(k) projections — model withdrawals with Withdraw cash flow (Future value mode) or solve how long funds last (Periods mode).
- Loan or savings rate checks — solve Interest rate when you know PV, PMT, FV, and N.
- Education or goal planning — “What will $500/month grow to in 15 years at 5%?”
- Present value checks — “What is $50,000 in 10 years worth today at 6%?” (Present value mode).
It is not a substitute for tax planning, variable market returns, or irregular cash flows — use specialized tools or professional advice for those cases.
How to use this calculator
Choose what to solve for
Select future value, present value, payment, interest rate, or number of periods on the mode rail.
Enter the other four TVM inputs
Fill present value, future value, periodic payment, annual rate, and periods — plus compounding and deposit vs withdrawal.
Review chart, schedule, and export
See total interest, growth chart, paginated period schedule, and download CSV or PDF when needed.
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Frequently asked questions about this future value calculator
What is the time value of money formula?
For a lump sum: FV = PV × (1 + i)n and PV = FV / (1 + i)n. With equal periodic payments add the annuity factor: PMT × ((1 + i)n − 1) / i (adjusted for payment timing). i is the rate per compounding period; n is the number of periods.
How do you calculate periodic payment (PMT) in TVM?
Switch to Payment mode and enter PV, target FV, rate, and periods. The calculator solves PMT = (FV − PV(1 + i)n) / annuity factor. Use Withdraw for retirement drawdowns (e.g. $24,000/year from a $250,000 portfolio).
How do you solve for interest rate in TVM?
Select Interest rate mode and enter PV, FV, PMT, and periods. The engine solves for the periodic rate that connects your inputs, then converts it to an annual nominal rate for your compounding frequency. In Excel, use =RATE(nper, pmt, pv, fv, type).
How much will $10,000 be worth in 30 years?
With no further deposits, annual compounding, and end-of-period timing: FV = 10,000 × (1 + r)30. At 7% per year, FV ≈ $76,122.55. At 5%, FV ≈ $43,219.42. Enter PV = 10000, PMT = 0, rate, periods = 30, and compounding = Annually above to verify any assumption.
What is the future value formula?
For a lump sum: FV = PV × (1 + i)n. With equal periodic deposits: add PMT × ((1 + i)n − 1) / i (times (1 + i) if payments are at the beginning of each period). i is the rate per compounding period; n is the number of periods.
How do you calculate future value with monthly deposits?
Set compounding to Monthly, enter your monthly deposit as Periodic deposit (PMT), and set Number of periods to the total months (e.g. 120 for 10 years). The calculator converts your annual rate to a monthly periodic rate automatically.
What is the difference between future value and present value?
Future value projects today’s money forward with interest. Present value discounts a future amount back to today. They are inverse operations: PV = FV / (1 + i)n for a lump sum. Use the mode rail above to switch solves.
Future value vs compound interest — when to use which?
Use this future value calculator for classic TVM inputs (PV, PMT, N, rate, compounding). Use our compound interest calculator for savings compare/goal modes and monthly contribution narratives. Both can model growth; the UX and questions differ.
What does payment at beginning vs end of period mean?
End of period (ordinary annuity) assumes deposits after interest accrues for that period — typical for many savings accounts. Beginning of period (annuity due) assumes deposits before interest — common for rent or some payroll savings. Beginning timing yields a slightly higher FV.
How do compounding periods affect future value?
More frequent compounding (e.g. daily vs annual) increases FV for the same nominal annual rate because interest earns interest sooner. Select the frequency that matches your account or assumption in the compounding dropdown.
How to calculate future value in Excel?
Use =FV(rate, nper, pmt, pv, type). Example: 6% annual rate compounded monthly for 10 years with $100/month: rate = 6%/12, nper = 120, pmt = -100, pv = -1000, type = 0.
Does this calculator account for inflation?
Optionally. Open the advanced panel and enter an inflation rate to see an inflation-adjusted FV row in the results breakdown. For full CPI history or purchasing-power tables, use our inflation calculator.
How do you calculate future value with interest compounded monthly?
Set Compounding to Monthly, enter the annual rate, and set Number of periods to total months. The calculator converts the annual rate to a monthly periodic rate: i = (1 + r)1/12 − 1. Then apply FV = PV(1 + i)n + PMT × annuity factor with your payment timing.
What is the future value of $1,000 invested for 20 years at 8%?
With annual compounding, no further deposits, and end-of-period timing: FV = 1,000 × (1.08)20 ≈ $4,660.96. Enter PV = 1000, PMT = 0, rate = 8%, periods = 20, compounding = Annually in the calculator above to verify.
What is the present value of $1,000 in 10 years at 6%?
With annual compounding and no periodic deposits: PV = 1,000 / (1.06)10 ≈ $558.39. Switch to Present value mode here, or use our dedicated present value calculator for lump sum and annuity discounting.
What is the future value of $5,000 in 10 years at 5% compounded monthly?
With no further deposits: set PV = 5000, PMT = 0, rate = 5%, periods = 120, compounding = Monthly. FV ≈ $8,144.47 (effective monthly rate i = (1 + r)1/12 − 1). This calculator uses effective periodic rates, not a simple annual rate ÷ 12.
What is future value of an annuity?
It is the FV of a series of equal payments (PMT) at a fixed rate. Formula: PMT × ((1 + i)n − 1) / i, adjusted for payment timing. Enter your deposit amount as PMT and set periods to match your schedule.
How to calculate present value?
For a lump sum: PV = FV / (1 + i)n, where i is the rate per compounding period and n is the number of periods. Switch to Present value mode above, or use our present value calculator for PV-first lump sum and annuity tabs.
What is the present value of $5,000 in 10 years at 10%?
With annual compounding and no periodic deposits: PV = 5,000 / (1.10)10 ≈ $1,927.72. Verify in Present value mode here or on our present value calculator.
What is the present value of $100,000 in 20 years at 12%?
Discounting a single future receipt with annual compounding: PV = 100,000 / (1.12)20 ≈ $10,366.68. Use Present value mode with FV = 100000 here, or the present value calculator preset $100k @ 12% / 20y.
What is the future value of $800 at 8% after 6 years?
Lump sum with annual compounding and no deposits: FV = 800 × (1.08)6 ≈ $1,269.50. Enter PV = 800, PMT = 0, rate = 8%, periods = 6, compounding = Annually.
What is the future value of $1,500 at 5% for 7 years?
With no further deposits and annual compounding: FV = 1,500 × (1.05)7 ≈ $2,110.65. Enter PV = 1500, PMT = 0, rate = 5%, periods = 7 in Future value mode.
Can this TVM calculator model withdrawals?
Yes. Set Cash flow to Withdraw and enter the amount withdrawn each period as PMT. Use Future value mode to see the remaining balance (e.g. $250,000 starting balance, $24,000/year withdrawn for 20 years at 8% → FV ≈ $66,952). Load the Retirement withdrawal preset to try this scenario.
Is this financial advice?
No. Results are illustrative estimates for education and planning. Actual returns vary with markets, fees, taxes, and account rules. Consult a qualified professional for investment or tax decisions.