Future value calculator — grow a sum at any rate and compounding

How to use the future value calculator

1. Enter the Present amount: the money you have today.
2. Enter the Interest rate (per year) as a percentage.
3. Enter the number of Years.
4. Choose the Compounding: Yearly, Half-yearly, Quarterly, Monthly, Daily or Continuous. Match it to the account or product if you know it.
5. Pick a Currency, then read Future value, Interest earned and Effective annual rate. The line chart and the Growth table show the value at each year-end.

What it does and when to use it

Future value is the forward-looking side of the time value of money. A one-off amount that is left alone earns interest, then interest on that interest. This calculator shows where that leads, for a savings deposit, a bond held to maturity or any sum you plan to leave untouched.

It is also a handy way to compare products quoted with different compounding. Two accounts at 7%, one compounding yearly and one quarterly, do not pay the same; the effective annual rate shows the real yearly growth of each. For the reverse question, what a future sum is worth today, use the present value calculator. For deposits with regular top-ups, the compound interest calculator adds contributions, and the APY calculator focuses on the yearly yield alone.

How it works

For compounding k times a year:

FV = PV × (1 + r ÷ k)^(k × t)

For continuous compounding:

FV = PV × e^(r × t)

where PV is the present amount, r the yearly rate as a decimal and t the years. Interest earned = FV − PV.

The Effective annual rate is the growth over one full year once compounding is counted: (1 + r ÷ k)^k − 1, or e^r − 1 for continuous. Regulation DD sets out how US banks work out the annual percentage yield (APY) on deposit accounts, and this figure is the same idea, so you can set it beside a quoted APY.

Worked examples

These figures come from the calculator’s own function.

A rupee deposit compounded yearly. Present amount ₹1,00,000, 8%, 10 years, yearly compounding. Future value ₹2,15,892.50 and interest earned ₹1,15,892.50. The effective annual rate equals the nominal 8%, as it should with one compounding per year.

Dollars compounded monthly. Present amount $1,000, 5%, 10 years, monthly. Future value $1,647.01, interest earned $647.01, effective annual rate 5.116%.

The same with continuous compounding. $1,000, 5%, 10 years, continuous. Future value $1,648.72 and effective annual rate 5.127%. Moving from monthly to continuous adds only $1.71 over ten years.

Limits and tips

• One amount, no withdrawals. The model assumes nothing is added or taken out.
• Constant rate. Real savings rates change, and investment returns are not fixed at all. For an investment, treat the rate as an assumption and try a few.
• Before tax and inflation. Interest may be taxable, and prices rise over time; the inflation calculator shows what the result is worth in today’s money.
• Part years are allowed; the table’s last row lands on your exact number of years.
• Everything runs in your browser.