Future Value Calculator
Calculate the future value of a lump sum or regular investment with compound interest.
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How to use this calculator
PV = present value (lump sum), PMT = monthly contribution, r = monthly rate, n = months.
- 1
Enter your initial lump sum investment (or 0 if starting from scratch).
- 2
Enter any regular monthly contribution amount.
- 3
Enter the expected annual return rate.
- 4
Enter the number of years to invest.
- 5
The result shows the projected future value and total growth earned.
Frequently asked questions
What formula does this tool use?
This tool uses FV = PV × (1 + r)^n + PMT × ((1 + r)^n − 1) ÷ r, where r is the annual rate ÷ 100 ÷ 12 and n is the number of years × 12. The first term grows the starting amount, and the second adds up every monthly contribution after it has compounded for the months it stayed invested.
When in the month is each contribution made?
At the end of the month, which is the ordinary-annuity convention. The first contribution therefore earns interest for 119 months in a 10-year run, and the last one earns none. Contributions made at the start of each month would grow slightly more, and this tool has no switch for that.
Is the rate entered as a percentage or a decimal, and how often does it compound?
Enter it as a percentage, so 8 means 8%. The tool divides it by 12 and compounds monthly, so 12% on 1,000 for one year gives 1,126.83, which is an effective yearly rate of about 12.68%. If your rate is already an effective annual figure, convert it to a nominal monthly-compounded rate first or the result will run high.
What happens at a 0% or negative rate?
A 0% rate is respected: the formula switches to PV + PMT × n, so 5,000 stays 5,000 after seven years with no contributions. Negative rates also work. With 2,500 to start, 100 a month and a −2% rate over five years, the tool shows 7,976.19 against 8,500 contributed. An empty field is read as 0.
What does the Return on Investment line measure?
It is total growth divided by total contributions (initial amount plus monthly deposits × months), shown as one cumulative percentage. It is not annualised, so a 30-year result and a 5-year result cannot be compared on that line. If you contribute nothing at all, it shows n/a rather than dividing by zero.
Can I model yearly deposits or deposits that change?
No. The tool takes one initial amount and one fixed monthly contribution for the whole period. It does not step contributions up each year, skip months, or take withdrawals, so a plan with those features needs to be split into separate runs.
Does the figure include tax, fees or inflation?
No. The result is gross nominal growth at the rate you typed. Fund charges, taxes on gains and the falling purchasing power of money are all outside the calculation, and the output is an illustration from your inputs, not a forecast or advice.
Can the investment period be fractional?
Yes. The tool multiplies the years by 12 and uses the result as n, so 2.5 years becomes 30 months. A value that does not produce a whole number of months, such as 2.55 years, is compounded as a fractional exponent rather than being rounded.
Future value with monthly compounding and monthly deposits
Two pieces added together
The calculator splits the answer into a lump-sum part and a deposit part. The lump sum grows by (1 + r)^n, with r equal to one twelfth of the annual rate. The deposit part sums a stream of equal end-of-month payments, each compounded for the months remaining. Adding the two gives the figure shown, and subtracting what you put in leaves the interest line.
Worked example with the default inputs
Starting with 10,000, adding 500 a month at 8% for 10 years gives a future value of $113,669.42. Contributions total $70,000, so growth is $43,669.42, a cumulative 62.4% on the money paid in. Take away the monthly deposits and keep only the 10,000 and it becomes $22,196.40, which shows how much of the larger figure comes from the deposits rather than the starting sum.
Comparing a few setups
The table compares four runs. Saving 200 a month from nothing for 30 years at 5% reaches $166,451.73 on $72,000 paid in, because the later years compound on a large balance. The 0% row shows the formula reducing to simple addition, and the −2% row shows growth turning negative.
| Start, monthly, rate, years | Future value | Contributed | Growth |
|---|---|---|---|
| 10,000, 500, 8%, 10 | $113,669.42 | $70,000.00 | $43,669.42 |
| 0, 200, 5%, 30 | $166,451.73 | $72,000.00 | $94,451.73 |
| 5,000, 0, 0%, 7 | $5,000.00 | $5,000.00 | $0.00 |
| 2,500, 100, −2%, 5 | $7,976.19 | $8,500.00 | −$523.81 |
Choosing what to vary
Length of time has the strongest pull on the output, because the exponent n sits on the growth factor. In the 30-year row above, interest ($94,451.73) ends up larger than everything paid in ($72,000), which only happens when the compounding has had decades to build. The rate is the next lever. Changing one input at a time and watching the growth line is the clearest way to see which assumption drives a given result.
What the figure leaves out
The output is a nominal pre-tax number built from a constant rate. Real returns vary from year to year, charges reduce them, and prices rise, so the same amount buys less later. Treat the result as an illustration of the arithmetic from the figures you entered, useful for comparing scenarios and not as a forecast. A negative rate, as in the −2% row, tests a falling balance, while a 0% rate is a clean check on your entries: the result must then equal contributions exactly, which quickly confirms the amounts were typed correctly.
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Results are estimates for informational purposes only and do not constitute professional financial, medical, legal, or technical advice. Read full disclaimer →