FV Annuity Payment Calculator to Calculate the Regular Deposit Needed to Achieve Savings Goal

Future Value Annuity Payment Calculator Sign

This calculator will calculate the future value of a lump sum you have in an interest earning account, and then calculate the periodic annuity payment needed to make up the difference between that and your future savings goal.

Plus, unlike many other online annuity calculators, this calculator will calculate annuity payments for either an ordinary annuity, or an annuity due, and display a year-to-year growth schedule so you can see how the present value of your account will grow to achieve your future savings goal.

If you're not sure what future value is, or you wish to calculate future value for a lump sum, please visit the Future Value of Lump Sum Calculator.

Or, if you're not sure what an annuity is, or you wish to calculate future value for a series of cash flows, please visit the Future Value of an Annuity Calculator.

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Future Value Annuity Payment Calculator

Calculate the regular deposit needed to achieve savings goal, given the amount already saved and the time remaining to reach your goal.

Special Instructions

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Type:Type of annuity:Type of annuity:Type of annuity:

Type of annuity:

Select the type of annuity. An Annuity Due indicates payments are made at the beginning of each period, whereas an Ordinary Annuity indicates payments are made at the end of each period.

FV goal:Future value goal:Future value or savings goal:Future value or savings goal:

Future value or savings goal:

Enter the total of the amount you wish to have saved to achieve your goal. Enter as a dollar amount, but without the dollar sign and any commas. If none, leave blank or enter a zero.

$
# of yrs:Number of years:Number of years to achieve goal:Years to achieve future value or savings goal:

Years to achieve future value or savings goal:

Enter the number of years within which you would like to achieve your savings goal.

#
Present value:Present value:Present value or current savings:Present value or current savings:

Present value or current savings:

Enter the lump sum amount you currently have in an interest bearing account. Enter as a dollar amount, but without the dollar sign and any commas. If none, leave blank or enter a zero.

$
Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual interest rate to be used for the future value calculations. Please enter as a percentage, but without the percent sign (for .06 or 6%, enter 6). Note that the calculator will convert the annual interest rate to the rate that corresponds to the payment frequency. For example, if you selected a monthly payment frequency, the future value annuity payment calculator will divide the annual rate by 12 and compound the interest accordingly.

%
Interval:Deposit interval:Preferred saving deposit interval:Preferred payment (saving deposit) interval:

Preferred payment (saving deposit) interval:

Select the interval you would prefer for making the calculated annuity payments.

Saved FV:Saved future value:Future value of current lump sum:Future value of current lump sum:

Future value of current lump sum:

Based on your entries, this is the future value of the current balance of your interest earning account.

Shortfall:Savings gap:Future value shortfall (savings gap):Future value shortfall (savings gap):

Future value shortfall (savings gap):

Based on your entries, this is difference between the future value of the current balance in your account and your savings goal. The calculator will use this figure to calculate the periodic payment/deposit needed to make up for the shortfall.

Factor:Annuity factor:Annuity factor:Annuity factor:

Annuity factor:

Based on your entries, this is the future value of an annuity factor for a series of $1 deposits made into an account earning the entered interest rate, and for the entered number of payment periods. The calculator divides the savings gap by this factor in order to arrive at the periodic annuity payment needed to bridge the savings gap.

Pmt needed:Payment needed:Payment needed to eliminate shortfall:Annuity payment needed to eliminate shortfall:

Annuity payment needed to eliminate shortfall:

Based on your entries, this is the periodic payment/deposit you will need to make into your account in order to achieve your savings goal within the desired time frame.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Help and Tools

Learn

How to determine if your savings goal has a shortfall.

Combining Two Future Value Calculations

In order to determine if the amount you currently have in an interest earning account will be enough to meet a future savings goal, you would need to use future value of a lump sum calculations.

If it turns out that the future value of your lump sum balance is enough to achieve the goal, no further calculations would be necessary.

On the other hand, if the future value of your current balance turns out to be less than your future savings goal (referred to as a savings gap), you would then need to use the future value of an annuity calculation to calculate how much and how often you would need to add to the account in order to make up for the shortfall.

What is an "Future Value of an Annuity Factor?"

For our purposes, the future value of an annuity factor is equal to the future value of a series of $1 deposits, which is calculated as follows:

Future value of series of $1 deposits = (1 + r)n, where r is the decimal equivalent of the interest rate and n is the number of periods.

For example, for a series of $1 deposits made at the end of each year into an account earning 8% annual interest for a period of 10 years, the annuity factor would be equal to (1 + .08) to the 10th power (1.08 x 1.08 x 1.08 ...), or 14.487.

Closing the Savings Gap

Once you have determined the gap between the future value of your present savings balance and your future savings goal, and you have calculated the future value of an annuity factor, all that remains is to divide the savings gap by the annuity factor.

The result is the periodic annuity payment required to close the savings gap, thereby enabling you to achieve your future savings goal.

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Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.